Simonds Group ASX float mooted for late 2014
Victoria’s largest homebuilder, Simonds Group, has hired brokers Moelis & Co and Morgans Financial in preparation for the company float on the ASX listing later this year.
Simonds’ founder and owner, Gary Simonds, has been in the business for 65 years, while for most of the past decade is has been run by chief executive Paul McMahon.
Victoria’s largest home builder had around 2,100 housing starts in the 2013 financial year, according to Housing Industry Association data.
It ranks as the country’s fifth largest home builder in 2012-13, behind Western Australia’s BGC, Alcock Brown, Metricon Homes and Harry Triguboff’s Meriton.
Simonds Group has about $600 million annual revenue.
The Australian Financial Review's Street Talk column suggests the float will value the company at about $300 million.