Company News

Ord Minnett to act as Joint Lead Manager and Underwriter to A$1.3b Redox IPO

June 14, 2023

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Ord Minnett to act as Joint Lead Manager and Underwriter to A$1.3b Redox IPO

Ord Minnett is delighted to be acting as Joint Lead Manager and Underwriter to the initial public offering (IPO) of Redox Limited (Redox) (ASX: RDX).

The IPO will raise approximately A$402.0 million at an offer price of A$2.55 per share, with an indicative market capitalisation at listing of A$1.3 billion. Shares are expected to begin trading on ASX on 3 July 2023.

Redox Ltd, founded in 1965 and majority owned and operated by the Coneliano family, is Australia's largest supplier and distributor of chemicals, ingredients and raw materials.

The Company operates across 16 global locations in 4 countries, with 400+ employees, annual revenue of over A$1.0 billion and an impressive 30-year revenue CAGR of 11.9%.

Ord Minnett’s CEO and Managing Director, Karl Morris, said “Ord Minnett is pleased to be acting as Joint Lead Manager and Underwriter to Redox’s IPO. The IPO marks a significant milestone, being the largest IPO on ASX since November 2021, and opens the window for other high-quality companies to pursue a listing. We look forward to continuing to support Raimond Coneliano, Renato Coneliano, Roy Brown and the rest of the Redox team as an ASX-listed entity.”

Note: Ord Minnett is the trading brand of Ord Minnett Limited ABN 86 002 733 048, holder of AFS Licence Number 237121. The Prospectus has been lodged with ASIC and can be accessed via this link: https://lnkd.in/gxwQ82fr. Offers to acquire shares must be accompanied by a copy of the Prospectus. A person should consider the Prospectus in deciding whether to acquire securities in Redox Limited and must complete an accompanying application form. Please contact your Ord Minnett adviser for further information.

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