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ACN hits road for $100.5 million float

Australian Careers Network has launched a six-day investor roadshow as it seeks to raise $100.5 million in an initial public offering through broker Petra Capital.

Australian Careers Network has launched a six-day investor roadshow as it seeks to raise $100.5 million in an initial public offering through broker Petra Capital.

Melbourne-based ACN, which runs registered training organisations including Community Training Initiatives and Cove Training, has priced the deal at 8.6-times to 9.2 times earnings before interest, tax, depreciation and amortisation, valuing the company at about $240 million.

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Original URL: https://www.afr.com/companies/financial-services/acn-hits-road-for-100-5-million-float-20140930-jl5l5