The launch comes after BoA and UBS made a cornerstone offer last week, which was concluded on Friday. The IPO price was at the lower end of the cornerstone.
According to the term sheet, new shareholders would hold 46.8 to 51.8 percent of the company’s listing on the stock exchange.
Aurora is Australia’s second largest private mental health provider and fourth largest private rehabilitation provider. The company has 25 locations, including 16 in Australia and nine in Singapore, and is part of Healthe Care.
The company expects revenue of $ 453.9 million and earnings before interest, taxes, depreciation and amortization of $ 103.9 million for the 2021 calendar year. Those numbers increased from $ 417.1 million to $ 86.3 million last year.
Aurora should be listed with interest-bearing loans and lease liabilities of $ 129.2 million valued at $ 381.1 million for 1.7 times net debt.
Collins Food Group’s Robert Kaye was named Aurora Chairman, while other directors included Luye’s Aona Liu, ex-Healthscope CFO John Hickey, former Singaporean politician Teo Ser Luck and ex-Macquarie banker Andrew Low.
If the IPO is successful, Aurora shares will start trading on a normal settlement basis starting June 2.
Canaccord, Ord Minnett and Shaw and Partners were named as co-lead managers, while Crestone and JBWere achieved junior sales roles. Allens does the legal work and PwC has investigated the accountant.