National Disability Insurance Scheme services provider Freedom Care has announced its intention to list on the Australian Securities Exchange, and is looking for $3.2m in new capital.
Novus Capital is lead manager on the offer which opened on Tuesday, and is offering 20c shares, with a one for five option attached and a 25c strike price.
The offer documents show the company more than tripled revenue from FY21 to FY22, to $12.2m, and in the six months to the end of December posted revenues of $10.6m and EBITDA of $2m.
The western Sydney-based business was co-founded by chief executive Jamal Sabsabi and predominantly offers services in the greater Sydney area.
“The Freedom Care business has established a core offering and is now looking to expand both organically and by acquiring other NDIS providers,’’ the offer documents say.
“It is anticipated that an ASX listing will allow Freedom Care to pursue additional growth opportunities, including geographic expansion to areas outside of NSW and by expanding its current offerings.’’
Add your comment to this story
Bellevue buy too challenging for Regis
Regis is understood to have backed out of the contest to buy rival gold miner Bellevue, but there are still potential suitors hovering.
CIMIC looking to cut debt with UGL sale
Investment bank Macquarie Capital is understood to have launched plans to sell UGL’s $1bn transport division, with two high profile private equity firms believed to be interested.
To join the conversation, please log in. Don't have an account? Register
Join the conversation, you are commenting as Logout