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My Food Bag is selling shares at $1.85 each, valuing the meal kit delivery company at about $450 million.
My Food Bag’s well-known brand and extensive marketing is expected to help the $450 million meal kit delivery company get enough support to list on the sharemarket next week, even though some brokers and investors don’t think it stacks up.
The company wants to raise as much as $342m through an initial public offering and list on the NZX and ASX on March 5. It’s enlisted the help of three broker firms, its mailing lists of current and past customers, and advertisements on TV and YouTube to help it market the sale.