Tonight, we take a look at the two latest contenders in front of fund managers.
Human services group APM has kicked off a round of cornerstone meetings, telling potential investors to think about a $1 billion-plus raising and $3 billion-plus market value.
APM told potential investors it forecast $1.3 billion in revenue and $155 million in profit for the 2022 financial year, both of which would be up strongly on last year.
It is expected to offer a 30 per cent stake at the IPO. Founder Megan Wynne would hold 35 per cent and private equity backer Madison Dearborn Partners 30 per cent.
It’s big and different from just about anything else on the ASX.
It will seek to raise the funds for its initial public offering, in a deal that will value the group at north of $3 billion or ‘mid-20s’ times forecast profit.
