Carters IPO on the cards

Wednesday 30 Mar 2022

Graeme Hart’s Rank Group has hired brokers Barrenjoey and Forsyth Barr to start briefing investors about a potential A$1 billion float of its Carters building products manufacturing and distribution operations in New Zealand, the Australian Financial Review reported on Monday.

Citing fund manager sources, the AFR-$$$ reported the spin-off would be dubbed Building Supplies Group and had about $1.55b of revenue per year, along with EBIT of about $150 million. It reported the float would be expected to raise over A$500m with a valuation of over A$1b.

Source: BusinessDesk

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