Amazon effect puts IPOs under a cloud

Original article by Sue Mitchell
The Australian Financial Review – Page: 13 : 16-May-17

The pending arrival of Amazon in Australia, along with reduced consumer spending, has made it less likely that three proposed IPOs in the retail sector will proceed. The IPOs in question are Retail Apparel Group, Quick Service Restaurant Holdings and Officeworks, with their combined value being put at $A2.4 billion. The lead managers behind Officeworks, which is a unit of Wesfarmers, have valued its IPO at between $A1.124 billion and $A1.5 billion, but the consensus of fund managers is that $A1.2 billion is as much as they would be willing to pay.

CORPORATES
AMAZON.COM INCORPORATED, RETAIL APPAREL GROUP PTY LTD, QUICK SERVICE RESTAURANTS HOLDINGS PTY LTD, OFFICEWORKS SUPERSTORES PTY LTD, WESFARMERS LIMITED – ASX WES, ARCHER CAPITAL PTY LTD, NAVIS CAPITAL PARTNERS LIMITED, YARRA CAPITAL GROUP PTY LTD, ARNHEM INVESTMENT MANAGEMENT PTY LTD, MACQUARIE CAPITAL PTY LTD, JP MORGAN AUSTRALIA LIMITED, UBS HOLDINGS PTY LTD, BENNELONG AUSTRALIAN EQUITY PARTNERS PTY LTD, BINGO INDUSTRIES LIMITED – ASX BIN, ZIP INDUSTRIES AUSTRALIA, TAROCASH PTY LTD, YD PTY LTD, JOHNNY BIGG, CONNOR

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