Aurora Healthcare and Australian Venue Co. preparing IPOs on ASX

Private hospital business Aurora Healthcare Australia and pub operator Australian Venue Co. are the two latest companies seeking to list on the ASX, as Sydney’s IPO market continues to gain traction.

Aurora Healthcare’s IPO could raise as much as A$414.8 million according to terms of the deal obtained by Bloomberg News, while KKR-backed Australian Venue – which runs about 175 pubs, bars and venues across Australia and New Zealand – is planning to raise $352 million.

Aurora’s IPO is the third major offering in two weeks in Australia, following non-bank lender Pepper Money’s bid to raise $351 million and medical testing operator Australian Clinical Labs’ $316 million target float.

Australian companies have priced about $1.7 billion of first-time share sales so far in 2021 in their best start to a year since 2018, according to data compiled by Bloomberg.

Bank of America Corp and UBS Group AG are leading Aurora’s IPO, while Citigroup, Goldman Sachs Group and KKR Capital Markets are the joint lead managers of Australian Venue’s offering.

Both Aurora Healthcare and Australian Venue plan to start taking institutional investor orders from May 10, while their shares will start trading on May 31 and May 27, respectively.