Victorian homebuilder Simonds is expected to list on the ASX on November 20 after a $161 million initial public offering. The bookbuild for the offer will be done either on October 22 or 23.
Executives from the company are in Sydney and Melbourne this week for investor roadshows.
The offer has been priced at $1.78 a share, which is 13.2 times the forecast earnings per share for financial year 2015.
The company has forecast a net profit of $20.4 million in FY15 on revenue of $638 million. It expects EBITDA of $34 million for the year, of which 70 per cent will be from its core construction business, and the balance from its vocational training business, Builders Academy Australia.
As reported earlier by DataRoom, the IPO mainly involves a sell-down by founder Gary Simonds and his team. They will garner $151 million, while the company will raise $10 million in fresh capital. The founders will retain 37 per cent in the company, while management will hold 3 per cent.
Simonds joins a crowded calendar for November listings. Outdoor media provider APN Outdoor, intellectual property firm IPH Ltd and training and technology company Citadel Group have already pencilled in dates for listing next month.
The Simonds float is being managed by Moelis & Co and Morgans.