ASI member Alfabs Australia will list on the ASX on Friday, following a share offer to investors and eligible employees.
The Australian Financial Review (AFR) reports joint lead managers Bell Potter and Blue Ocean Equities sought IPO backers for the engineering and equipment hire company at 25ยข per share, seeking to secure between $16 million and $18 million. This would give Alfabs a market capitalisation of between $69.7 million and $71.7 million, AFR reports.
Since 1986, Alfabs has been owned and operated by the Torrance family. The AFR reports the family is expected to remain a major shareholder, retaining up to 54% of the company after it lists.