Credit: Shutterstock photoArowana, an Australian blank check company focused on the energy and education industries, filed and set terms for an initial public offering on Friday. The North Sydney, Australia-based company plans to raise $60 million by offering 6.0 million units at $10 per unit. At that price, Arowana would command a market value of $78 million.
The company is led by Kevin Chin, who founded sponsor Arowana & Co. in 2007. Arowana is the parent company of business development company Arowana International (ASX: AWN), investment firm Arowana Partners and venture firm Arowana Capital.
The North Sydney, Australia-based company, which was founded in 2014, plans to list on the NASDAQ. The company has not yet selected a symbol. EarlyBird Capital, Inc. is the sole bookrunner on the deal. No pricing terms were disclosed.
The article Australian blank check company Arowana files for a $60 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , may have investments in securities of companies mentioned.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
