Investment banks are pitching to advise $1.2 billion freight-forwarding giant Mondiale VGL, as the company prepares for an eventual listing.
The New Zealand company has issued documents requesting proposals, according to The Australian, with Forsyth Barr and Craigs believed to be among those competing for the role.
Mondiale VGL is worth about $723 million as a standalone operation, but recently merged with fellow freight company VISA Global Logistics last year – the pair bring in a combined annual revenue of $1.2 billion.
Mondiale VGL currently moves 500,000 containers a year, and is one of Australia’s biggest handlers. It employs more than 1,500 people globally.
This is a good time to go public. According to Drewry’s World Container Index, global freight rates are currently 64 per cent higher than the five-year average.
The float is expected to occur in the new year.
