$40.0m raised as part of IPO, valuing the company at a market cap of c.$260.0m.
Henslow acted as Corporate Advisor to MyDeal on their IPO, with Morgans and RBC acting as Lead Managers and Underwriters. From the funds raised, $35.0m will be directed towards growth initiatives while the remaining $5.0m will be offered to selling shareholders. The funds raised under the IPO will be used to accelerate growth of MyDeal’s private label brand, Duke Living, as well as continuing to invest in its technology and advertising to grow the MyDeal brand and customer base. The IPO was strongly supported by several well-known institutional investors and family offices.
Founded in 2011 by Sean Senvirtne, MyDeal is a pure-play Australian e-commerce retail marketplace specialising in household goods such as furniture and homewares. MyDeal operates a marketplace model that acts as an intermediary, facilitating transactions between consumers and sellers. MyDeal has developed proprietary technology which allows the marketplace to scale quickly whilst still retaining a low-cost operating model.
Initial Public Offering
Striving to make life more affordable for all Australians
Henslow’s extensive public markets experience and capabilities were used to advise MyDeal and in collaboration with the Joint Lead Managers ensured a successful IPO process. We look forward to supporting MyDeal as they gain public traction and strive to become one of Australia’s leading e-commerce retail marketplace.
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