SiteMinder braces for AU$627M IPO; here’s all you need to know  

Highlights

  • Sydney-based startup SiteMinder is set to launch AU$627 million IPO.
  • The travel technology firm could be valued at between AU$1.19 billion and AU$1.24 billion.
  • The price band for the offer is expected to be AU$4.85 to AU$5.06 apiece.
  • The company has already raised over AU$100 million in a pre-IPO funding round.

SiteMinder, the world’s leading hotel booking software provider, may soon list its shares on the Australian Securities Exchange, joining the league of travel stocks such as Flight Centre Travel (ASX: FLT), Corporate Travel Management (ASX: CTD), Webjet (ASX: WEB), Helloworld Travel (ASX: HLO), Jayride Group (ASX: JAY), and others.

The Australia-based hotel booking technology startup has reportedly entered the initial public offering (IPO) market to raise AU$627 million by public listing of shares on the domestic exchange. The IPO could be valued at between AU$1.19 billion and AU$1.24 billion, while market capitalisation is expected to be in range of AU$1.31 billion and AU$1.36 billion, as per an AFR report.

The price band for the offer is expected to be AU$4.85 to AU$5.06 apiece.

Though the company is yet to make an official statement regarding this, but it is in talks with underwriters to finalise the terms for its highly anticipated float. The travel technology firm has reportedly hired investment banks UBS, Barrenjoey and Goldman Sachs to manage its IPO.

SiteMinder raises AU$100M in pre-IPO funding round

Ahead of the listing, the Sydney-based startup raised over AU$100 million in a pre-IPO funding round, which comprised primary and secondary capital. The latest funding comes at an enterprise value of about AU$1 billion, which received support from new as well as existing investors.

Fidelity International, one of the world’s leading investment and asset management companies, also participated in the pre-IPO funding rounds, while existing shareholders Washington H. Soul Pattinson, Pendal Group, and BlackRock also invested in the company.

About the company

Founded in 2006, SiteMinder ranks among technology pioneers that help hoteliers to connect with the likes of Booking.com and Expedia and instantly update their guest list across all systems. The open hotel commerce platform claims to have generated over 100 million reservations worth over US$35 billion in revenue in the last year.

Comment


Disclaimer

Ad

GET A FREE STOCK REPORT


Top Penny Picks under 20 Cents to Fit Your Pocket! Get Exclusive Report on Penny Stocks For FREE Now.


   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK