Here you go.. Not much detail in there except the timetable is pushed to next year.
Former Credit Suisse banker Scott Colvin has had no trouble grabbing the attention of his former colleagues and rivals. The Hong Kong-based Colvin has met the major investment banks in recent weeks, updating them on the listing plans of his new employer, the $1 billion freight and logistics software provider WiseTech Global.
It’s understood the banks will pitch potential float structures next month, with the likes of global tech specialists Morgan Stanley and Goldman Sachs, local tech float front-runner Macquarie Capital, and Colvin’s old shop, Credit Suisse, among the banks expected to show their hands.
Since The Australian Financial Review revealed WiseTech’s float plans in July, it’s understood the timetable has been pushed back making a 2014 listing almost impossible.
WiseTech is believed to have some other irons in the fire, including a potential acquisition, which need to be done before the initial public offering campaign begins.
WiseTech is already profitable and sources said it was in no great need for an equity injection, which ensures any float was likely to be a second-quarter 2015 deal at the earliest.
It’s understood the company is committed to floating in Australia, although it will be interesting to see whether it considers a secondary listing in another part of the world.
WiseTech is just one of a handful of software-as-a-service providers to make a play for the ASX boards.
Urbanise.com, which sells property management software, jumped 40 per cent to 70¢ a share on its debut on Monday, while construction management company Aconex and Asian property portal PropertyGuru are also expected to test the IPO markets in coming months.
