Brokers Bell Potter and Canaccord are understood to have closed the book for the initial public offering of buy now, pay later provider Laybuy.
A management presentation was received by investors on Monday and the bookbuild was to be finalised on Wednesday.
The New Zealand group, which is owned by its founders, has locked in cornerstone investors for a deal following an earlier pre-IPO raising.
Among the pre-IPO investors that injected $10m into the business are Bombora Investment Management, Perennial Value Management and Melbourne-based Saville Capital.
The understanding is that as part of that deal, they are required to inject three times their initial investment into the float.
Bell Potter and Canaccord are working on the transaction along with Venture Advisory, which has a role as the financial adviser.
Shares have been priced at $1.41 for the IPO and the group will raise $80m, with the company to have a market value of $246.1m, equating to 12.3 times its revenue.
Laybuy was founded in 2016 by managing director Gary Rohloff and his son Alex.
It generates most of its earnings from the New Zealand and British markets, but also has a presence in Australia.
The company is believed to be among a number of New Zealand-based technology groups targeting the Australian Securities Exchange for a listing, with many proving to be highly defensive during the COVID-19 pandemic.
The prospectus will be lodged with ASIC on Friday ahead of trading on a normal basis on September 14.
Debt capital markets proceeds up
Debt capital markets proceeds for Australia increased more than 16 per cent in 2024 compared to the previous year as corporates became more confident that inflation was being reined in.
Jarden to lobby for joint Australia-NZ share trading index
Growing concerns about liquidity on the Australia and New Zealand stock exchanges have prompted plans to lobby governments for a combined trans-Tasman share trading index.