NewsBite

Bridget Carter

Nuix to brief analysts on IPO

Bridget Carter
Nuix chief executive Rod Vawdrey.
Nuix chief executive Rod Vawdrey.

Software company Nuix is expected to brief analysts this week for its initial public offering.

The analyst research meetings for the company are set to take place with investors in the first week of next month.

The management roadshow will occur in the following week before the company lists in the first week of December.

Nuix has so far proved to be attractive to institutional investors, subject to price, and now looks almost certain to be heading for a float through Morgan Stanley and Macquarie Capital rather than a trade sale, despite earlier buyer interest.

This comes as technology stocks remain in favour in the equities market amid the COVID-19 pandemic.

The global investigative analytics and intelligence software company, which is part-owned by Macquarie, is understood to generate $176m of annual revenue.

Expectations have been that Nuix will be looking for a price that equates to about 10 times its revenue.

Elsewhere, listed shopping centre company HomeCo is planning to raise about $300m from the initial public offering of its Daily Needs REIT.

The new spin-off will list on November 23 with a market value of about $850m. It will have a debt level of 27 per cent and dividend yield of 5.5 per cent.

The David Di Pilla-backed HomeCo has hired Macquarie Capital and Goldman Sachs for the listing of the business, which consists of a $900m real estate portfolio leased to groups such as KFC and McDonald’s.

Bridget Carter
Bridget CarterDataRoom Editor

Bridget Carter has worked as a writer and editor for The Australian’s DataRoom column since it was launched in 2013, focusing on capital markets, mergers and acquisitions, private equity and investment banking. She has been a journalist for more than 18 years, covering a broad range of events and topics, including high profile court cases and crimes, natural disasters, social issues and company news.

Add your comment to this story

To join the conversation, please Don't have an account? Register

Join the conversation, you are commenting as Logout

Original URL: https://www.theaustralian.com.au/business/dataroom/nuix-to-brief-analysts-on-ipo/news-story/313fe8e4b2997c43fd9cf5b5d2f73e2d