It will be Extremely Tight I was told and only a very small $70+ Mil to go to Goldman's Big end and some to may be Wisons for the spread etc. Annual growth of 20% and earnings growth of 50% in the last 4 years, not bad I reckon. It should do extremely well being in the I T and Financial Sector with this kind of figures. May be we have to buy on Market on Open to own a decent amount of stock. The word is Big End of Town would swallow this up in no time as demand would be unreal from Fundies etc. So lets hope for at least a minimum from Wilsons if you are a client. Cheers.
Katavi, Peterdobes, JohnG, Dimaz and all my other mates lets kick start the IPO's this year with Touchcorp as heaps of good ones are on the way Boyz. Lets get Cracking.
Goldman Sachs launches Touchcorp IPO marketing
PUBLISHED: 4 HOURS 6 MINUTES AGO | UPDATE: 4 HOURS 6 MINUTES AGO
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EDITED BY SARAH THOMPSON, ANTHONY MACDONALD AND JAKE MITCHELL
Touchcorp is the first initial public offering candidate in front of investors after reporting season, with lead manager Goldman Sachs releasing pre-marketing research to fund managers on Friday morning.
Goldman Sachs analysts Mike Younger and Isabelle Dawson said Touch had grown sales at 20 per cent a year since the start of 2012 and earnings were up 56 per cent annually over the same time frame.
The analysts valued Touch at $144 million to $176 million on an equity value basis, which implied a 16.7 times to 20.9 times price-to-earnings multiple for the 2015 calendar year.
Touch is seeking to list on the Australian Securities Exchange as it looks to capitalise on growth opportunities in south-east Asia and Europe. The offer is expected to be worth up to $70 million.
The company – whose software connects retailers such as 7-Eleven with third-party service providers like Optus, to enable those retailers to sell the third-party products – makes most of its revenue from Australian clients and their overseas arms.
Goldman Sachs said Touch would benefit from changing industry dynamics including the shift to cloud computing, growth in card payments, rising mobile commerce penetration and Australian health spending.
The broker said Touch had company-specific growth opportunities and a high level of recurrent revenue.
The pre-marketing research comes as reporting season finishes and the initial public offering window opens.,
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