Australian-based whiskey and vodka producer Top Shelf has priced its initial public offering at $2.21 per share.
The group will raise $50m, comprising a $35m primary raise and a $15m secondary sell down by shareholders.
Top Shelf will have a $109.9m market capitalisation and including debt, it will be worth $90.5m.
The price represents 4.5 times its forecasted revenue for the 2021 financial year on an enterprise value basis.
The company’s owners include Drew Fairchild and Adem Karafili.
Working on the transaction is Ord Minnett and Wilsons.
The company will lodge its prospectus on November 12. Shares will start trading on a normal basis on December 10.
Top Shelf is a Melbourne-based producer and marketer of high-quality Australian spirit-based beverage brands.
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