Australia: Costa Group releases IPO
June 25 , 2015
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Australia's largest integrated produce company Costa Group has priced its value below previous expectations, ahead of an initial public offering (IPO) on July 24. 
The Australian Financial Review reported the group was aiming to raise AUD$541-637.4 million in the listing, with a potential market capitalization of up to AUD$839.4 million.
The proposal also brings down expectations of shareholdings for the Costa Family and U.S.-based Paine & Partners, at 10.5% and 12.4% respectively.
The story reported Costa's IPO share price range of AUD$2.20-2.70 was 14.8-times to 17.6-times higher than the 2016 financial year net profit after tax.
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