Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

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We would be price-sensitive for this deal and would only go in towards the low-end.&nbsp;The deal is being priced at 12-14x EV/EBITDA which is in-line with where the two listed peers are trading (Regus Healthcare - REG and Japara Healthcare - JHC).Both peers were listed over the past eight months and are of a similar size to Estia Health, hence, the current listing doesn't provide a unique exposure in any way. Thus, even though the company's fundamentals remain strong, however, in our view, the deal needs to be competitively priced in order to garner wide scale investor interest.

We would be price-sensitive for this deal and would only go in towards the low-end.&nbsp;The deal is being priced at 12-14x EV/EBITDA which is in-line with where the two listed peers are trading (Regus Healthcare - REG and Japara Healthcare - JHC).Both peers were listed over the past eight months and are of a similar size to Estia Health, hence, the current listing doesn't provide a unique exposure in any way. Thus, even though the company's fundamentals remain strong, however, in our view, the deal needs to be competitively priced in order to garner wide scale investor interest.

Valuations don't offer a compelling discount, despite strong fundamentals

Australia

Estia Health Limited provides aged care services. The Company operates a network of retirement homes, providing housing, nursing, food preparation, community building, and related services. Estia Health serves residents throughout Victoria, Australia.

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Estia Health (EHE AU)

Valuations don't offer a compelling discount, despite strong fundamentals

We would be price-sensitive for this deal and would only go in towards the low-end. The deal is being priced at 12-14x EV/EBITDA which is in-line...

Sumeet Singh

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