Nomad Building Solutions Ltd, the South Fremantle-based portable accommodation manufacturer, has released its IPO prospectus to raise $77.2 million from new and existing shareholders.
The company will issue 23.8 million shares to new applicants at an issue price of $1 each.
Nomad will also issue 54.3 million shares, at an issue price of $1, to ANZ Capital and DB Zwirn which, as vendor shareholders, will then sell them to successful share applicants.
ANZ Capital and DB Zwirn acquired their shares as part of a private equity assisted management buy-out of the Nomad business in December 2005 and early 2006. All other existing shareholders are members of Nomad's management who acquired their shares pursuant to that management buy-out.
After the deal ANZ will retain 20 per cent of the shares it currently holds.
The funds from the issue will be used to fund expansion initiatives such as the acquisition of Wangara-based McGrath Homes, as well as the retirement of the CRP Notes and a portion of Senior Debt and working capital.
The offer is fully underwritten by Wilson HTM Corporate Finance Ltd and Euroz Securities Ltd, opening on October 3 and closing October 20.
