07 December 18
"Carhood launches AUD 1.5m pre-IPO round ahead of 2Q19 listing - new CEO"
"Carhood, a private Melbourne-based Australian car sharing rental service, has launched a AUD 1.5m (USD 1.1m) pre-IPO raise ahead of a planned stock exchange listing in Q2 2019, said new Chief Executive Officer George Parthimos, who came on board in August this year to lead the IPO and next growth phase for the company.
Carhood is close to finalizing brokers for the listing but is still happy to hear from any brokers interested in mandates as well as from advisors with potential investors, Parthimos said.
The company’s corporate advisor for the pre-IPO is Queensland-based BlueMount Capital, while Sydney-based MMR Corporate Services is the advisor for the IPO. It has identified auditing and legal advisers, which will be announced shortly, he added.
Carhood, which will start preparing its prospectus in Q1 2019, plans to raise AUD 5m to AUD 7m on an enterprise value of AUD 13m and an expected market capitalization of some AUD 20m, Parthimos said, noting that some 60% of the company will be floated."
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