Report
EUR 88.49
For Business Accounts Only
In my earlier note, Onsite Rental IPO - Still on the Acquisition Led Growth Path, Despite the Recapitalisation, I had covered the company’s background and past performance. I had also spoken about the recapitalisation that was undertaken in 2017 and how despite that the company still seems to be on an acquisition-led growth path.
In this note, I’ll run the deal through our ECM framework, compare it to its closest listed peers and comment on valuations by looking listed peers and some of the private transactions in the space.
Given the sluggish ECM sentiment down under, owing to four deals having recently been pulled, we aren’t too positive on Onsite’s prospects either.
Onsite Rental IPO - Optically cheap, comparatively not
Onsite Rental, a provider of B2B equipment rental services, plans to raise around US$175m in its Australian IPO.In my earlier note, Onsite Rental IPO - Still on the Acquisition Led Growth Path, Despite the Recapitalisation, I had covered the company’s background and past performance. I had also spoken about the recapitalisation that was undertaken in 2017 and how despite that the company still seems to be on an acquisition-led growth path.
In this note, I’ll run the deal through our ECM framework, compare it to its closest listed peers and comment on valuations by looking listed peers and some of the private transactions in the space.
Given the sluggish ECM sentiment down under, owing to four deals having recently been pulled, we aren’t too positive on Onsite’s prospects either.
Underlying
ONSITE RENTAL GROUP PTY 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
Other Reports on these Companies
Other Reports from Aequitas Research
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.