<html><body>
The Frank Costa family will retain 10.5% of Australia's biggest horticulture company, which is expected to list on the ASX with an $840 market value in August.
The Australian Financial Review report the IPO is priced at $2.20 to $2.70 a share, which is 14.9 to 17.6 times Costa's forecast net profit for the 2016 financial year.
The pricing has implied a dividend yield of between 3.4% and 4.1% for the same period.
The AFR's Street Talk column suggests based on the mid-range price of $2.45, the Costa family will make $158 million from selling down their stake in the 127-year-old company
Costa has been pitching the company to investors as an industrial technology company rather than purely an agriculture company following its move into protected cropping, which accounts for about 75% of its earnings now.
Costa owns five blueberry farms in Morocco in a joint venture with three minor shareholders and has also partnered with US berry company Driscoll's to build a farm in China.
</body></html>

jchancellor-FAypfDUnLy

Frank Costa set to float his horticulture company

<html><body>
<div class="cq-article-content-paras section">
Mortgage broker Australian Finance Group has raised $122 million for its initial public offering, after the float priced at $1.20 a share on Tuesday. 
AFG is expected to begin trading with a $257.8 million market capitalisation on Friday. 
Sources told The Australian Financial Review Street Talk column that bookrunner Macquarie and AFG's existing shareholders closed the raising at $1.20, which was the bottom of the $1.20 to $1.38 a share range. 
The price implied 14.4-times forecast proforma net profit for the 2015 financial year.
It represents 13.1-times 2016 financial year forecasts.
AFG is majority owned by founding shareholders including managing director Brett McKeon and directors Malcolm Watkins and Kevin Matthews. 
Macquarie Bank also has a 9.9% stake.  
Macquarie is lead manager, while Morgans Corporate is co-manager.
Herbert Smith Freehills was legal adivser to AFG.
 
</div>
<div class="cq-article-content-paras section"> </div>
</body></html>

AFG set to float with $257 million market capitalisation

<html><body>
Real Estate Investar Group (REI Group), a provider of online services to Australian and New Zealand property investors, has made its ASX debut opening this morning at 21 cents, then trading at 19 cents.
The listing follows the raising of $5 million through a fully underwritten initial public offering (IPO) of 25 million shares at $0.20 per share. 
With 12 percent Fairfax Media is the largest shareholder in the company, with one of REI's non-executive director being Antony Catalano, CEO of Domain Group.
The REI Group provides online products and services to property investors to assist in the identification, analysis, acquisition, tracking and accounting of residential investment property.
Customers pay through paid subscription.
REI Group owns and operates the websites <a href="https://www.realestateinvestar.com.au/" target="_blank">www.realestateinvestar.com.au</a> and <a href="https://www.realestateinvestar.co.nz/" target="_blank">www.realestateinvestar.co.nz</a>. 
The company board includes chairman Simon Baker (former CEO and managing director of REA Group and chairman of the Mitula Group).
Baker said he believes the ASX listing will provide the foundation for the next phase of our expansion.
The listing follows the real estate listing services company, the McGrath Estate Agency which <a href="/news/49032-mcgrath-float-hits-asx-bourse-at-1-94" target="_blank">floated on the ASX at $1.94 on Monday</a> is currently at $1.85. 
</body></html>

jrobinson-rf4aSBido9

Simon Baker's Real Estate Investar Group debuts on ASX with Fairfax backing

<html><body>
The McGrath Ltd estate agency is seeking to raise $135 million for its initial public offering with the advising stockbrokers intending to run an institutional bookbuild on November 12.
It would see McGrath list on December 9 with a possible $295 million market capitalisation. 
JPMorgan and Bell Potter are joint lead managers. 
McGrath's owners intend to sell 31 million shares under the offer structure. 
The Australian's Dataroom reported the prospectus will be lodged on November 16.
</body></html>

McGrath sets December 9 IPO date with $295 million capitalisation

<html><body><div class="cq-article-content-paras section">
LJ Hooker has commenced a pre-initial public offering funding round, sources told the Australian Financial Review Street Talk column.
It's understood the firm is looking to raise about $20 million. 
Citigroup and Morgans is advising on the deal. 
The group has more than 700 franchise offices, an iconic real estate firm launched by Sir Leslie Hooker in 1928.
The AFR noted fund managers have been asked to compare LJ Hooker to Realogy Franchise Group, the $US5.5 billion parent company of CENTURY 21, ERA, Coldwell Banker, and Sotheby's International Realty which trades on a forward profit multiple of about 26 times. 
It noted LJ Hooker franchisees had in the past year sold more than $19 billion worth of property and increased the pool of properties under management to about 130,000.  
Sources suggested any ASX listing would not take place until early 2016.
</div></body></html>

LJ Hooker readies for 2016 IPO

<html><body>
Juwai.com, China's biggest international real estate portal, is seeking an initial public offering as early as this year, according to Bloomberg.
The firm was raising funds from institutional investors and strategic partners before selling shares in a public offering at the end of the year or in early 2017, Juwai chief executive Charles Pittar said in Tokyo on Friday. 
Juwai, which is based in Hong Kong and Shanghai, has two million unique visitors per month and means "Living Abroad".
It connects Chinese buyers with brokers overseas through 2.5 million listings on its website.
The company was founded by Australians Andrew Taylor and Simon Henry. The Australian reported its investors have included Simon Clausen.
Last year, Juwai reported unique users were up nearly 70 percent to 2.5 million a month.
Its property listings more than doubled to 4.5 million across 60 countries. 
Juwai's users have a budget of $US2.6 million ($3.4 million) on average, the company's presentation materials say, though typically looking for homes ranging in price from $US500,000 to $US1.5 million.
</body></html>

Juwai.com to float

<html><body>
Management and advisers to LJ Hooker are set to embark on a roadshow in May, according to the Australian business column Dataroom.
They suggest the iconic real estate chain, LJ Hooker's long-planned $400 million initial public offering gains some momentum.
It advised LJ Hooker had initially planned to front investors in March but merger negotiations with a Melbourne-based property agency delayed the roadshow.
In a deal that will deliver the enlarged entity an 8 per cent share of the market, The Australian revealed the proposed union with the Barry Plant real estate agency last year, however it’s understood the two companies have yet to finalise discussions.
The company accounts for 6.7 per cent of the national volume of real estate shares residential while Barry Plant accounts for 1.9 per cent.
LJ Hooker has its advisers to the float as Citi and Morgans, who are likely to emphasise the business’s reliance on a franchise model.
LJ Hooker has already secure $22m in a pre-ipo funding round which enabled it to partially pay down a loan owed to Macquarie Group.
</body></html>

LJ Hooker IPO roadshow set for May

<html><body>
LJ Hooker's long-planned $400 million initial public offering may have got delayed further until September, with UK real estate agency Countrywide chairman Grenville Turner flying into Sydney for meetings with potential investors, according to a report in The Australian.
Citi, the lead manager to the IPO, scheduled back-to-back meetings with potential investors to explain the revised listing date, the business strategy and point out the differences between LJ Hooker's float and the December-listing of property agency McGrath Ltd, reported the Australian business column Dataroom. 
LJ Hooker's listing was subject to completion of its merger talks with Victorian real estate firm Barry Plant, as the combined, bigger entity would look to emulate Countrywide by housing both brands in the same corporate structure and yet operating independently, the report said.
The listing would be under the name Empireal and when it lists would have nearly 10 percent market share, making it the largest in the sector.
Countrywide and LJ Hooker entered into a partnership in 2012 to expand their reach. LJ Hooker, an iconic real estate firm launched by Sir Leslie Hooker in 1928, has more than 700 franchise offices across Australia.
Turner was drafted in as a special advisor by Janusz Hooker, the majority shareholder.
The report said Hooker, Turner and Empireal's chief executive designate and the current CEO of LJ Hooker, Grant Harrod, updated investors about the status of the merger talks.
The perceived slowdown in Australia's property market and McGrath's poor show are possibly weighing in on LJ Hooker's IPO.
McGrath, whose shares fell below their IPO pricing on its first day on the ASX, have lost more than a third of their value in three months. They were trading at $1.34 in mid-morning trade on April 13 on the ASX.
</body></html>

prateek24-ezbwHMbNAk

LJ Hooker public float may be delayed further: The Australian 

<html><body>
Property funds manager and ­industrial property specialist Propertylink is nearing its ASX float.
A listing would mark the ­return of former Valad boss ­Stephen Day to the public arena, with the company structured as a stapled vehicle that will specialise in core-plus style investing.
As revealed in The Australian in May Propertylink will seek to raise $500 million plus.
Two high-profile investors have emerged as backers to ASX-aspirant and real estate and infrastructure fund manager, Propertylink, The Australian Financial Review Street Talk column has revealed.
Point Capital, run by former Macquarie power bankers Michael Carapiet and John Prendiville, was approached about one year ago to inject capital into Propertylink.
Carapiet had several executive roles at Macquarie over 25 years, and Prendiville was a 20-year veteran and global head at Macquarie.
Goldman and Grosvenor are looking for an opportunity to sell down their stakes.
Carapiet and Prendiville's emergence in the Propertylink deal comes after sponsor broker Goldman Sachs set a $568 million to $690 million equity valuation range for the float.
Propertylink has snapped up a portfolio of eight industrial assets across four Australian states for $135.3 million from Charter Hall in May.
</body></html>

Propertylink IPO nears

<html><body>
Matt McCann, the former CEO of Australian product comparison websites iSelect and Compare the Market, has joined the online real estate business LocalAgentFinder, reports The Australian Financial Review.
LocalAgentFinder, a privately owned company, is preparing for an initial public offering in the first half of 2017.
It is expected to seek about another $20 million to $30 million in equity.
The company told shareholders that McCann's experience in corporate finance and in operating high-growth companies made him an ideal choice to lead the company's next phase of growth.
</body></html>

Ipo

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Ipo