Online auctions house Grays.com Ltd has kicked off its push to re-join the ASX boards. The company’s sponsor brokers sent pre-IPO valuation reports to fund managers on Monday morning, to launch its float marketing.
Grays Online sells everything from heavy machinery to used cars and wine. Robert Rough
Jarden analysts told clients Grays was worth $240 million to $330 million on an enterprise value basis, or 9.1 times to 12.5 times forecast 2021 EBITDA.
The analysts said Grays expected $871.6 million in gross transactions through its selling platform in the 2021 financial year, $125.7 million revenue and $26.4 million EBITDA. Net profit was pegged at $10.7 million.
Grays is majority owned by Sydney-based Quadrant Private Equity, via its growth fund. Quadrant acquired the business from Eclipx, while it was previously a separately listed company on the ASX.
Source: Financial Review
By Sarah Thompson, Anthony Macdonald and Tim Boyd