Business Services Industry
Wotif's dotcom float to liberate $170m for founders.
Australasian Business Intelligence, April, 2006
Byline: Colin Kruger
Apr 25, 2006 (The Sydney Morning Herald - ABIX via COMTEX) -- The Wotif group in Australia runs an accommodation bookings web site. On 25 April 2006, the owners unveiled plans for a float. The prospectus values the company at $A400 million. The listing will mean that the current shareholders will garner a reward of $A172 million from the sale to institutional investors and retail clients of the float managers, ABN Amro Morgans and Macquarie Bank. The float fees will total $A7.2 million. The float offer will open on 9 May 2006 and the shares should start trading on 8 June 2006. The company founder and CEO, Graeme Wood, could gain up to $A42 million from the shares he plans to sell. He will retain a 25 stake in the group.
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