Telecommunications company Opticomm is set to list as a business worth $208.2 million on August 22, as it embarks on a $42.4 million initial public offering.
Shares are being sold at $2 each in a deal being handled by broker Morgans.
For the 2020 financial year, anticipated normalised free cash flow will be $15m with its market value equating to 13.8 times that number.
Opticomm provides services to both property developers and retail service providers.
It’s expected to make $22m net profit for the 2020 financial year and has a forecast annual dividend yield for 2020 of 3.6 per cent.
The company describes itself as a licensed carrier and wholesale network infrastructure operator which designs, builds, operates and maintains fixed line access, fibre-based telecommunications networks servicing new residential commercial and retail developments within Australia.
Opticomm is owned by a number of private investors and directors and the board and management will own 47 per cent once listed.
It is also chaired by Allan Brackin, who is also chairman of GBST.
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