The IPO plans of Trajan Scientific and Medical are believed to be progressing, with meetings scheduled for prospective investors.
The Melbourne-based business is working with Ord Minnett and Canaccord and, once listed, it is expected to be worth between $200m and $300m. The group would look to raise between $80m and $100m.
Trajan Scientific, which is backed by former Australian rugby union captain John Eales, designs, manufacturers and markets scientific and medical devices and is launching an IPO to fund growth.
It provides precision syringes for pathology machines and other devices for micro sample collection, pathology products, precision components for mass spectrometry and automated workflow solutions. It is also a global provider of technologies in chromatography and spectrometry, enabling measurements in biology, food and the environment.
The owner is chairman Stephen Tomisich, who founded the business around 2011.
It is thought that Trajan generates between $5m and $10m of net profit and between $20m and $30m of gross profit.
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