Allphones, ThinkSmart plan stockmarket floats

Two major Western Australian-owned companies, ThinkSmart and Allphones Group, have appointed advisers ahead of planned listings on the stockmarket.
ThinkSmart, which was established by current managing director Ned Montarello in 1996, has appointed JP Morgan to advise on its options.
Perth-based Mr Montarello, who declined to provide details of the float plans, retains a 40 per cent shareholding in the company, which increased annual turnover to about $29 million in 2005-06.
Other shareholders include Kerry Stokes' Australian Capital Equity, Janet Holmes a Court and ANZ Banking Group, which paid $6 million for a 16 per cent stake in 2005.
ThinkSmart's chairman is former Macquarie Bank executive David Griffiths.
The group has developed systems for rapid processing of high-volume, low-value consumer finance transactons, and in recent years has expanded from Australia to Europe.
Communications retailer Allphones has appointed Citigroup to advise on its growth options, including the float, which is expected to involve a substantial selldown by its two major shareholders, including Perth-based chairman Tony Mitchell.
Allphones was bought by Mr Mitchell in 1999 and its corporate office moved to Sydney two years ago to support its national growth.
The company, which has just opened its 150th store, achieved strong growth in sles and profits last tyear, accordin to accounts lodged with the Australian Securities and Investments Commissions.


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