Flower grower and wholesaler Lynch Group is the first chunky float contender out of the gates and ready to test Australia’s initial public offering market.
The company’s sponsor brokers kicked off its pitch on Monday, sending detailed pre-deal marketing reports to fund managers seeking to explain Lynch Group, its industry and outline its financials.
The analysts said Lynch Group expected to record $316.1 million in revenue and $52.4 million EBITDA in the 2021 financial year, which would be up from $255.2 million and $30.4 million in FY20.
Lynch Group is majority-owned by Australian private equity firm Next Capital. The company was founded by the family of Leo Lynch in 1915, and has been backed by Next Capital since 2015.
JPMorgan, Jarden and Citi are overseeing the IPO.
Source: Finantial Review
By Sarah Thompson, Anthony Macdonald and Tim Boyd
