MOTORCYCLE HOLDINGS SHARES GAIN SOME SPEED

Written on the 29 April 2016 by Nick Nichols

MOTORCYCLE HOLDINGS SHARES GAIN SOME SPEED

SHARES in national motorbike dealership group Motorcycle Holdings (ASX:MTO) accelerated rapidly on their ASX trading debut this morning, hitting a high of $2.59.

The shares surged 30 per cent more than their $2 issue price, before retreating to hover around $2.50 by the midday session.

The Brisbane-based company, chaired by former Super Retail Group boss Bob Thorn, has 34 franchised dealerships across 24 locations in Queensland, NSW and the ACT.

The dealerships include major brands such as Harley Davidson, Honda, BMW, Triumph and Ducati.

The company says it is capitalising on strong growth of motorcycle ownership per capita in Australia.

In its prospectus, the company highlights that registered motorbike ownership has risen from 29 to 34 for every 1000 Australians between 2009 and 2015.

Motorcycle Holdings released 23.2 million shares to raise $46.3 million through the IPO which was launched in March.

Based on the latest share trades, the company is now valued at $95 million.

Part of the reason for the sale was to allow major shareholder, the private equity group Archer Capital, to sell down its holding in the company.

Archer retains a stake of about 10 per cent following the IPO and that holding is subject to escrow provisions.

Motorcycle Holdings is forecasting revenue of $212.8 million in FY16, up from $185.7 million in FY15.

The statutory net profit after tax is expected to be $4.4 million, up from $3.7 million the previous year.

 


Author: Nick Nichols

Latest News

2017 BRISBANE TOP COMPANIES REVEALED

WHILE Queensland is regarded as an economy in transition with the winding down of the mining boom, the 2017 top 50...

2017 BRISBANE TOP COMPANIES 1-10

FROM insurance and banking to travel, gambling, retail, property and pizza, these "heavyweights" have ha...

2017 BRISBANE TOP COMPANIES 11-20

RETAIL, property, an airline, cars, real estate, software services, energy, agriculture, veterinary services bathr...

2017 BRISBANE TOP COMPANIES 21-30

JEWELLERS Michael Hill International listed in 2016 with a half-billion dollar market capitalisation and a new CEO...

Related News

FURNITURE DISRUPTOR SET TO SHARE HIS ONE OF A KIND BUSINESS MODEL

IT'S no secret that Australians love homemaking. Their ceaseless quest to create the perfect place to call hom...

WEEDING OUT THE ASX'S BURGEONING CANNABIS TREND: 8 COMPANIES TO WATCH

A NICHE is budding on the ASX in the form of medical cannabis, an industry which has been on the country's rad...

FRESH CLASS ACTION TO REVEAL ANOTHER SIDE OF SLATER AND GORDON DOWNFALL

ACA LAWYERS has issued a formal letter of demand to Andrew Grech (pictured), managing director of Slater and Gordo...

STARSHIPS WERE MEANT TO DELIVER DOMINO'S PIZZA

NICKI Minaj may have been off the mark when she declared 'starships were meant to fly'. However, she m...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter