ThinkMarkets upcoming IPO

Fundies ponder new online broker float

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• by
• Sarah Thompson
• Anthony Macdonald
• Joyce Moullakis

Online broker ThinkMarkets could be headed for an ASX listing later this year after tapping Elysium Capital Partners and Lodge Partners to help find strategic investors in a pre-initial public offering funding round.

ThinkMarkets is seeking to raise $5 million at a pre-money valuation of $25 million, according to a term sheet sent to prospective investors.

The company will then pursue a sharemarket float that's expected to value ThinkMarkets at $50 million to $60 million on the ASX boards, and facilitate its international growth plan.
The IPO raise has been pegged at about $10 million.

Its key product is a proprietary trading platform for mobile devices called Trader Interceptor, which has been downloaded almost half a million times. The business has seven offices around the world, but is keen to ride the online trading wave and grow faster.

The company recorded earnings before interest and tax of $6 million last year, on revenue of around $24 million. But it's enjoyed a record first quarter, and is targeting EBIT of $8 million this year with sales rising to $35 million, according to the term sheet.

Bids for the pre-IPO funding round must be submitted next week. At least two small cap fund managers are poised to join the register, sources said.


Read more: http://www.afr.com/street-talk/fundies-ponder-new-online-broker-float-20180405-h0yct8#ixzz5CDn5NQ3N
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