Amaysim has finally decided to go ahead with it’s IPO on the Australian Stock Exchange. It has now lodged it’s prospectus with the ASX and much to the surprise of most analysts, they have valued themselves at much lower than expected.
The company has announced a IPO price of $1.80 giving it a market capitalisation of $317 million. This is much less than the figure suggested by some which was up to $367 million.
Amaysim was founded by Peter O’Connell and Rolf Harrison. It was launched on the back of private equity funding in 2010 by Shark Holdings. Shark Holdings is a German company which is involved in private equity projects and maintains a 35 percent share of the company. The company is also owned by other private equity partners including Markus Kahlbetzer. These entities are all expected to sell their holdings when the company floats on the ASX.
Amaysim is a MVNO (Mobile Virtual Network Operator) utilising the Optus network for their service. They work on a low cost model ensuring they can provide a low cost service to attract consumers and make a profit.