Blue Star parent company Ive Group will become Australia’s newest publically-listed printer on July 1 when it floats on the ASX with a market value of $200m.
The Selig family and Wolseley Private Equity, which helped Selig buy Blue Star in 2012, will retain 45 per cent of the company and hope to raise $120m from the initial public offering.
Floating the company was the initial plan of Champ p/e when it created Blue Star a decade ago, before it hit the skids in 2012 after years of losses, causing Selig backed by Wolseley to buy it.
[Related: Ups and downs of Blue Star]
Ive will run a site tour for potential investors on Friday ahead of a management road show in the first week of June and the book build on June 11.
According to The Australian, the company is forecasting $19m in net profit for the 2016 financial year and $356m in revenue.
Investment management companies Bell Potter and Evans and Partners are advising Ive on the plan, the newspaper says.
Ive executive chairman Geoff Selig told ProPrint he has no comment at this time.
The plans to go public follow last month’s major rebrand that made Blue Star one of three operating divisions under the Ive banner, positioning the company as a full-service communications company not just a printer.
It will join PMP and Opus as publically-listed printing companies, both of which have seen huge share price falls over the past 10 years.
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