Ooh Media lodges prospectus ahead of $289m float in December

ooh mediaAustralia’s largest outdoor media company Ooh Media has launched its prospectus for its impending initial public offering, which will put 58 per cent of the shares in the Champ Private Equity controlled company up for sale when the company floats on December 17.

Shares in the company are being offered for $1.93 each, with 87.4 million being put on sale through the broker offer valuing the company at $289.3m

The float will happen just over a month after rival APN Outdoor listed on the Australian Securities Exchange on November 12 at $2.70 per share. At the close of trading today they were trading for $2.43.

As it floats the company will have a debt of around $82.1m, and is forecasting revenue of $266.4m, and profit of $12.5m, after recording a loss in the last financial year of $28.5m.


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