IOOF Placement - A Big Deal but Will Take Some Time to Complete

APAC IPOs & Placements

Zhen Zhou, Toh

Smartkarma

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<p><a href="https://www.smartkarma.com/entities/12349" target="_blank" data-smartkarma-citation="entities:12349:1">IOOF Holdings Ltd (IFL AU)</a> is selling 43.5m primary shares, worth approximately US$353m to partially fund its acquisition of ANZ's OnePath Pensions and Investments business and Aligned Dealer Groups.</p><p>The deal scores well on our framework owing to its strong earnings momentum and inexpensive valuation. The company posted its FY2017 results in August and has managed to beat consensus estimates. It has been able to maintain a good track record of beating consensus estimates for revenue and adjusted…</p>

IOOF Holdings Ltd (IFL AU) is selling 43.5m primary shares, worth approximately US$353m to partially fund its acquisition of ANZ's OnePath Pensions and Investments business and Aligned Dealer Groups.The deal scores well on our framework owing to its strong earnings momentum and inexpensive valuation. The company posted its FY2017 results in August and has managed to beat consensus estimates. It has been able to maintain a good track record of beating consensus estimates for revenue and adjusted…

IOOF Placement - Company's Good Track Record Means FY2019 EPS Accretion Will Likely Be Achieved