SurfStitch IPO

Another online retailer to list by the end of this year..

Online surfware retailer SurfStitch is another prospect shaping up to be popular among investors.
Fund managers that already own part of the company, including Ausbil, Regal, Paradice and Quest, are opting to retain their holdings even when the company lists earlier next month with a market capitalisation expected to be between $280 million and $355m at the top end. SurfStitch founders Justin Cameron and Lex Pedersen are also expected to retain a significant holding in the company post-listing, suggesting a tight register.
SurfStich kicks off its institutional roadshow this week through Sydney, Melbourne and Asia, with management meeting more than 70 investors. The prospectus is set to be lodged on November 27.
The indicative price range of the IPO has been set at $1.40-$1.80 per share...

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