Myer has lodged its eagerly-anticipated prospecuts this morning.
Among the key details:
- The company will list on the ASX on November 2, with shares offered at between $3.90 and $4.90
- A full-year fully franked dividend of 20.5 cents to 21.2 cents is expected
- The IPO is aimed at raising $2.34 billion
More than 140,000 people had registered to recieve the prospectus, the keen interest being seen as a sign of the gathering strength of “Australia’s budding bull market”.
The prospectus showed that private equity owners TPG and Blum Capital could sell all of their shares, but some, including Solomon Lew, feel TPG retaining a meaningful stake would send a message of confidence to institutional investors.
In the next few weeks the float will be marketed to retail investors, followed by an institutional bookbuild.
For more on this news story:
- The Age: “Prospectus out: Myer prices shares”
- The Age: “Bulls charge for Myer”
- The Australian: “Interest is keen in the Myer float”
- Sydney Morning Herald: “‘We can’t wait’ for Myer float: DJ chief”
Tags: IPOs, myer float, solomon lew, tpg, upcoming floats
