Street Talk

Ballarat’s Vitrafy Life Sciences preps IPO bookbuild for $117.5m float

Sarah Thompson, Kanika Sood and Emma Rapaport

Oct 22, 2024 – 12.32pm

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Ballarat-based Vitrafy Life Sciences, a biomedical cryopreservation crawling with ex Virtus Health executives and backed by Phil King’s Regal, has launched an IPO bookbuild that could see the early-stage company hit the ASX boards with a $117.5 million market capitalisation by November 27.

Vitrafy wants to raise $25 million to $35 million at $1.84 a share, at an enterprise valuation of $79.1 million to $79.8 million. Ord Minnett and Bell Potter are mandated as joint lead managers and Morgans is co-lead manager.

Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.

Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.

Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.