Morgans has launched an IPO for aerial imagery and mapping business Aerometrex, forging ahead despite a slew of canned floats this month. Aerometrex provides aerial imagery and mapping to clients like infrastructure groups.
The company is seeking to raise $25 million at $1 a share and is eyeing off an early December listing date. Aerometrex's market capitalisation would be $94.4 million at the completion of the offer.Bids close at 10am on Thursday next week and a network presentation is scheduled for 11am on Monday.
Morgans is the lead manager and underwriter to the IPO.
The broker is pitching Aerometrex as a mini version of Nearmap, the aerial imagery company that has gone gangbusters in the last two years and has a market capitalisation of $1.3 billion. Nearmap shares are trading up 124 per cent in the last 12 months to $2.82. ————————-
NEA Price at posting:
$2.77 Sentiment: Hold Disclosure: Held
