Potential IPOs inundate market
Recent market strength has played into the hands of local investment bankers and once again we are being inundated with meeting requests to see a wide range of companies planning to list on the ASX in the coming months. We are in the process of undertaking due diligence on a number of businesses including WiseTech Global, Reliance Worldwide, ArcPac, Tegal Foods, Global Traffic Network, Bravura and Red Bubble, to name a few. Pleasingly, some of them look to be of reasonable quality and certainly worthy of further detailed due diligence. But as usual, details on how most of these IPOs will be priced is scant at this stage, so our enthusiasm will be tempered until more details emerge.
View the March reports: