Best & Less to go public as Australia’s crowded discount sector heats up
Inside Retail
MAY 18, 2021
Australian discount department store business Best & Less plans to raise about $72.3 million through an initial public offering at $2.15 a share, according to a term sheet that was sent to potential investors this week. The retailer aims to list on the Australian Securities Exchange (ASX) in mid-June with a market capitalisation of $271.2 million, or four times its pro forma forecast EBITDA for the 2021 calendar year.
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