Alex Bank, Munro Footwear: Meet Ord’s IPO Class of 2024
It may be August but next year’s initial public offering pipeline is already revving up.
Street Talk can reveal stockbroker Ord Minnett blasted invitations to its top fund manager clients on Tuesday, inviting them to hear from next year’s IPO hopefuls.
Simon Beitz’s Alex Bank has set its sights on the ASX after securing fresh funding. Michael Quelch
Kicking off the zoom-sesh is tech pioneer Brennan, which discussed its renewed IPO plans with the Australian Financial Review in April. The 26-year-old consultancy and systems integrator, which last year won a bidding war to acquire listed tech company MOQ, is looking to the ASX to fund more multi-million-dollar acquisitions.
Up next is family-owned footwear wholesaler and retailer Munro Footwear Group. Founded in 1962 by Kerrie and Graham Munro, the company owns well-known Australian brands such as Williams, Midas, Mollini, Django & Juliette, Diana Ferrari and Colorado, and earlier this year announced it had snapped children’s show brand Bobux out of receivership.
Of course, broker parades of IPO potentials are not confirmations of a listing — but they’re a good sign as any that floats are on the mind.
We reckon the most exciting name on the list is upstart financial services challenger Alex Bank. The digital bank has been on the funding trail, picking up $20 million from investors at a $130 million pre-money valuation in May and plotting a second multi-million dollar raise for the second half of the year.
Alex got its banking licence last December and is engaged in personal lending. It had lent some $74 million to customers by the end of June.
The final two names on Ord’s speed dating list are Perennial Partners-backed AI software startup Complexica and critical minerals
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