Business
Hipages seeks $100.4m for IPO at up to 5.3x revenue – The Australian Financial Review
Broker Goldman Sachs blasted terms for Hipages’ proposed initial public offering on Monday morning.
The final IPO price would be set by a bookbuild slated for Thursday October 22, the term sheet said.
News Corporation would be Hipages’ biggest shareholder on listing with about a 25.4 per cent stake, while Hipages CEO Roby Sharon-Zipser would own about 6.5 per cent, it said.
Funds were told that money raised in the float would go towards growth opportunities like M&A and to pay down existing debt.
Hipages’ main business is in helping tradespeople generate business leads through an online…
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