Booktopia shares priced at $2 each ahead of ASX listing

Shares in online book retailer Booktopia have been priced at $2 each ahead of the company’s planned listing on the ASX, with management and sponsor brokers Morgans and Ord Minnett speaking to potential investors this week, reports the Australian.

The company is seeking to raise $30m through a primary raise and $10m through a selldown by existing investors. The $2 share price implies a $105m market value upon listing, with a forecasted $104.5m in revenue for financial year 2017 and earnings before interest, tax, depreciation and amortisation (EBITDA) of $2.1m.

Booktopia has also announced former FlexiGroup and Dexus Property Group chairman Chris Beare will chair the company, while JB Hi-Fi and Baby Bunting director Gary Levin will sit on the board.

The Financial Review reports that Booktopia expects to list in November if it meets its investment target.

Category: Local news