Report
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AVC is the second largest pub group in Australia, it has a presence in New Zealand as well, with a total portfolio of 175 venues across Australia and New Zealand (ANZ). AVC operates in the ANZ licensed venue market, which allows it to provide an array of services including provision of food and beverages, gaming and betting facilities, function rooms, live entertainment and accommodation.
The overall industry hasn’t really been doing great, i.e. it has not been growing by much and overall beer consumption has been in decline for decades. However, AVC has been able to grow fast by acquiring assets, having expanded from just two venues in 2014 to 175 venues by Mar 2021.
It plans to continue to grow via acquisitions and its largest shareholder, KKR isn’t selling any shares in the listing.
Australian Venue Co. IPO
Australian Venue Company (AVC) aims to raise around US$273m in its Australia IPO. The company was majority owned by KKR prior to listing.AVC is the second largest pub group in Australia, it has a presence in New Zealand as well, with a total portfolio of 175 venues across Australia and New Zealand (ANZ). AVC operates in the ANZ licensed venue market, which allows it to provide an array of services including provision of food and beverages, gaming and betting facilities, function rooms, live entertainment and accommodation.
The overall industry hasn’t really been doing great, i.e. it has not been growing by much and overall beer consumption has been in decline for decades. However, AVC has been able to grow fast by acquiring assets, having expanded from just two venues in 2014 to 175 venues by Mar 2021.
It plans to continue to grow via acquisitions and its largest shareholder, KKR isn’t selling any shares in the listing.
Underlying
AUSTRALIAN VENUE CO LTD
Provider
Aequitas Research
Aequitas Research is a leading ECM research firm with a focus on IPOs and placements/follow-on offerings across the Asia Pacific with deal size of over USD100m.
Since 2015, we have covered 400+ IPOs and 450+ placements with a hit rate of 73% and 65%, respectively. We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic analysis.
Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis. We also provide a more quant driven analysis on placement/follow-on offerings.
Markets that we cover include:
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.
Sumeet Singh
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