Forensic software company Nuix has finalised the terms for its initial public offering, with the company to raise $975.3m.
Its market value will be $1.8117m and its enterprise value $1.7446bn.
Shares will be sold at $5.31 each.
The price equates to nine times the company’s forecasted revenue on an enterprise value basis for the 2021 financial year and 27.4 times its earnings before interest, tax, depreciation and amortisation.
For the 2021 financial year, Nuix expects to generate $193.5m of revenue and $63.6m of EBITDA.
The company will have 341.2 million shares on a fully diluted basis once listed and the $975.3m IPO will include a $100m primary offer and a $875.3m secondary offer.
Nuix is listing through Morgan Stanley and Macquarie Capital and is 66 per cent owned by Macquarie Group.
Macquarie Group will sell down its stake to hold 30 per cent in the company once it is listed.
The business has software that allows users to process and make sense of huge amounts of data and provides services to governments, advisory law firms and larger corporations globally.
Morgan Stanley analysts earlier valued Nuix at between $2.4bn and $3.4bn including debt.
The company has released the pricing of the IPO to the market on Friday as it allocates shares following a cornerstone process for the IPO.
Nuix will hold its book build on November 26 and plans to list on December 4.
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