DGL Group raising $100m at 9 times earnings
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Chemicals, logistics and waste management outfit DGL Groupâs has priced its initial public offering.
DGL Groupâs warehousing and distribution arm provides services like freight forwarding, inventory management, warehousing and transport. Â Shutterstock
It is understood the company will seek to raise $100 million in fresh equity for the float at $1 a share, and the raising included no sell down.
Funds were told that issue price implied a $261.4 million enterprise value, and represented nine times DGLâs fiscal 2022 earnings before interest, tax, depreciation and amortisation.
The integrated industrial company would have a $257 million market capitalisation upon listing, and hit the boards with $73 million cash and $22.9 million net cash.