Aconex raises size of IPO

Aconex logo 2014The Australian reports that Melbourne-based SaaS construction collaboration software company Aconex has boosted the size of its raising for its upcoming IPO on the back of strong investor demand. Aconex previously said its plans were to raise between Au$120m and $150m. But it will now raise between $232m and $264m. The company is expected to have a market value of Au$350m to $405m (see post).

The Australian Business Review says Aconex will sell 101.9 million to 105.4 million shares when its bookbuild gets underway on 27 October. The deal equates to an enterprise value for the company of Au$322.6m to $379.5m. Aconex will lodge its prospectus by 28 October before trading on 18 November.

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