Shares in Myer are set to be offered to the public again after an absence for the Australian Stock Exchange of over 3 years.
The private equity consortium which took the retailer private is looking to realize its investment. This is after considerable restructuring and asset sales.
Unfortunately, I don’t have any of the specifics of the deal yet, however word is that a prospectus is due to be lodged with ASIC at the end of September. I don’t know any of the pricing details, the amount to be raised or how the shares will be allocated. However, loyalty card holders and staff members can apparently preregister their interest in the Myer float in order to be sent out a copy of the prospectus when available.
With the recent strength of the Australian stock market, I’m sure Myer’s current owners will be very keen to get the sale out of the way as soon as possible. The last thing they’ll want is for the market to tank now…
Posted by aussiefloats 