MYOB successfully completes bookbuild for public offer

1 May 2015

MYOB successfully completes bookbuild for its initial public offer

MYOB Group Limited (MYOB) successfully completed the institutional bookbuild for its initial public offer yesterday. The Final Price was determined at the conclusion of the bookbuild and is $3.65 per Share.

Key Offer statistics

MYOB Chairman Justin Milne noted the strong demand for the company’s shares from a range of investors. “I am inspired by the great support we have received from investors around the world, including local institutions in Australia as well as US investors. We saw a significant level of participation from Eligible Retail Noteholders in the offer, with approximately 57% of holders exchanging their notes into shares. We see this wide range of investor interest as a strong vote of confidence in MYOB.”

Tim Reed, Chief Executive Officer of MYOB, said: “Listing on Monday will be a proud day for the whole MYOB team. In the past six years as a private company, we’ve transformed MYOB into a wonderfully innovative business that continues to focus on the needs and challenges of SMEs. We will welcome our new investors to participate with us in our growth as more and more small businesses head to the cloud to manage their accounts.

“By focusing our R&D on Australia and New Zealand, we believe our cloud solutions are an excellent fit for businesses and accountants in this exciting market segment,” he added.

Craig Boyce, MYOB director, said: “It has been a privilege to work with the team at MYOB over the last 3.5 years. Bain Capital prides itself on building great businesses such as MYOB, possessing a well-known brand with innovative products and leading market share, led by an experienced management team in an exciting and dynamic industry. As a Director, I am eager to continue supporting the growth of this iconic, Australasian, cloud-driven technology business with our new shareholders.”

MYOB's largest shareholder, Bain Capital will retain approximately 58% of MYOB, reflecting its continuing support for the company.

Applicants under the Broker Firm Offer should contact their broker to confirm their allocations. Other Applicants wishing to confirm allocations or who have any further queries regarding the Offer can contact the MYOB Offer Information Line on 1800 992 613 (toll free within Australia) or +61 1800 992 613 (outside Australia) between 8:30am until 5:30pm (Sydney time) Monday to Friday. The MYOB Offer Information Line will close on 15 May 2015.

MYOB’s Shares will trade under the code MYO and are expected to commence trading on the Australian Securities Exchange on Monday, 4 May 2015 at midday Sydney time on a conditional and deferred settlement basis.

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