wellard group the bal of livestock, page-6

Wellard Group's initial public offering has been priced at $1.39 to $1.68 a share, in a deal that would value the company at up to 14.5-times forecast profit.
Wellard Group's initial public offering has been priced at $1.39 to $1.68 a share, according to terms sent to fund managers on Monday morning.
Brokers UBS and Deutsche Bank released pricing details, which showed Wellard would seek to raise $333.6 million to $403.2 million in a deal which would value the company at up to $672 million.
The price represented 12-times to 14.5-times forecast 2016 financial year profit and 8-times to 9.5-times forecast proforma earnings before interest, tax, depreciation and amortisation.  
The final price would be determined at an institutional bookbuild on November 19, according to the termsheet.
If successful, Wellard Group would list with a $556 million to $672 million market capitalisation on December 15.
Funds raised would be used to fund Wellard's acquisition of two subsidiaries, provide financial flexibility, pay offer costs and provide a liquid market for the company.
Wellard is an agricultural logistics company that connects cattle and sheep producers to end markets.
The company owns and controls infrastructure including ships and quarantine facilities for the live export market.
The release of pricing on Monday morning comes after Wellard's lead managers valued the company's equity at $650 million to $697 million.


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