Shaver Shop to list with $1.05 share price

The Shaver Shop will list as a $120 million company after its shares were priced at $1.05 each in its book build on Friday afternoon.

As reported on The Australian’s BusinessNow blog, there was $75 million raised for the initial public offering of the Craig Mathieson-backed company.

It came after the company’s share price range was set at $1.03 per share to $1.30.

The Shaver Shop plans to raise between $97m and $111.8m with the market value to be between $129.6m and $153m.

It also equates to 14.2 times to 16.8 times its forecasted annual net profit for the 2017 financial year.

Ord Minnett and Shaw and Partners are the joint lead managers on the deal.

The retail chain will list on the Australian Securities Exchange on a normal settlement basis on July 1.