The Good Guys appoints managers for IPO, ASX listing
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The Good Guys has stepped up its plans for an IPO and listing on the ASX, appointing managers for the process.
The company, which has recently been the focus of attention from companies looking to acquire it, says it has appointed Credit Suisse, Goldman Sachs and UBS as joint lead managers to support the planned IPO and ASX listing.
Helfen Corporate Advisory will provide oversight as independent financial advisers.
The Good Guys says it will ‘also consider any alternate ownership proposals that emerge’.
Last week, JB Hi-Fi confirmed it was in preliminary discussions with The Good Guys in relation to a proposed sale of the specialty consumer electronics and household appliances retailer.
Harvey Norman has also reported flagged its interest in acquiring The Good Guys.
Last week’s statement from JB Hi-Fi to the ASX notes that ‘at this stage, discussions between JB Hi-Fi and The Good Guys are preliminary and exploratory in nature’.
“JB Hi-Fi has made no decision and nor has it entered into any agreement with respect to the acquisition of The Good Guys.
“JB Hi-Fi understands that The Good Guys are looking at a range of options including an IPO on the ASX,” JB Hi-Fi says.
The Good Guys has 100 large-format stores across Australia and also operates what it says is an ‘advanced’ e-commerce platform. The company has annual sales of $2 billion and claims ‘market leading positions in multiple categories’ including home entertainment, white goods, cooking and small kitchen appliances.
The retailer says its transition to 100% ownership of the store network is ‘proceeding well’ and remains on track for completion by the end of the financial year.