The management roadshow for IPO hopeful Education Centres Australia is expected to begin in November, with the group set to list as a $500m business by Christmas.
The company is advised by Macquarie Capital and Bank of America Merrill Lynch and is understood to be eager to raise about $250m.
ECA offers higher education and English language courses for students from the Middle East and Asia, as well as undergraduate pathways, postgraduate degrees and internships. It also works in partnerships with universities.
It comes as equipment rentals company Onsite Rentals targets October for its roadshow, with research for its IPO out within the next two weeks. It is understood Onsite, which offers business-to-business equipment rental, generates about $235m of revenue. Earnings before interest, tax, depreciation and amortisation for the 2019 financial year was just over $75m and some estimate the business could be worth $700m when it floats.
BAML is one group working on the dual-track process, along with Macquarie Capital.
Add your comment to this story
Webjet block trade outcome puzzles investors
A suitor looking for 5 per cent of the shares in the online travel group has come up short.
Regis Healthcare co-founder offloads 5pc stake
Bryan Dorman is selling a $108m holding in the company through investment bank Jarden with shares were being offered at $7.18.
To join the conversation, please log in. Don't have an account? Register
Join the conversation, you are commenting as Logout