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Kogan To List On ASX: IPO Launched To Raise $50 Million

Kogan.com plans to list on the ASX by the end of the month, launching an initial public offering to raise $50 million.

Under the IPO, Kogan proposes to issue approximately 28 million shares at $1.80, with Kogan having lodged a prospectus with the Australian Securities and Investment Commission.

Kogan, which will commence trading on the ASX on June 30, would have a market capitalisation of $168 million on the offer, with Kogan founder and CEO Ruslan Kogan and CFO and COO David Shafer to retain a little over a 69 per cent interest in the company following completion of the offer.

Kogan has forecast $241.2 million in revenue for the 2017 financial year and EBITDA of $6.9 million.

As previously reported by Fairfax Media, Kogan has stated he has no plans to “splash cash”, with proceeds to be used to pay back $5.5 million in debt, along with funding growth, including marketing and inventory investment.

Having been founded in 2006, Kogan has grown from initially selling LCD televisions online.

Earlier in the year, Kogan acquired the Dick Smith online business, subsequently relaunching Dick Smith as an online-only retailer at the beginning of May.

 

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