Shriro IPO

No idea about this one. People with good touch at Wilson's might no more. They are underwriting it. Fire away your thoughts boyz.

May 4 2015 at 12:15 AM Updated May 4 2015 at 12:15 AM SAVE ARTICLE PRINT REPRINTS & PERMISSIONS Shriro working around the clock on $100m float

Sydney-based Shiro Ltd markets and distributes a range of company-owned brands as well as third-party-owned brands such as Casio, the name behind popular watches Baby-G and G-Shock.
Sydney-based Shiro Ltd markets and distributes a range of company-owned brands as well as third-party-owned brands such as Casio, the name behind popular watches Baby-G and G-Shock.
by Sarah Thompson Anthony Macdonald Jake Mitchell
Consumer products group Shriro Ltd is launching an initial public offering, which is expected to give the company a market value of $100 million.
Shriro has Wilson HTM and ANZ Securities on board as joint lead managers and underwriters on the float.
The Sydney-based group markets and distributes a range of company-owned brands including Omega, Robinhood and Everdure, as well as third-party-owned brands Casio, Blanco and Pioneer.
Shriro is expected to generate revenue of $190 million and earnings before interest, tax, depreciation and amortisation of $19 million this year.
It's understood Wilson HTM will kick off an investor roadshow and site visits next week. Much of the pitch to fund managers will focus on Shriro's expansion, driven by strong housing approvals and a robust renovation market, with double-digit profit growth this year.
Omega and Everdure produce household appliances, while Casio was the brand behind popular watches such as Baby-G and G-Shock.
Elsewhere, Australian Dairy Farms Group is seeking to raise $41 million at 25¢ a share to fund the acquisition of six milk-producing farms. Bell Potter is handling the raising, after it worked on the company's October IPO.
ADFG has agreed to pay $39 million for the six farms in Victoria, which are forecast to add $5.3 million in annual earnings. The company was granted a trading halt until May 11.