Australian recruiter APM plans IPO to raise $728m: Sources

Australian recruiter APM plans IPO to raise $728m: Sources
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Updated 07 October 2021
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Australian recruiter APM plans IPO to raise $728m: Sources

Australian recruiter APM plans IPO to raise $728m: Sources
  • The disability specialist recruiter known as APM has grown rapidly in the past two years and bankers handling its IPO are meeting potential cornerstone investors this week
  • It expects to grow revenues by about 30 percent to attain net profit of about A$150 million in fiscal 2022

Australian specialist recruiter Advanced Personnel Management plans to raise about A$1 billion ($728 million) by the end of November through an initial public offer of about a third of the company, two sources with knowledge of the plans told Reuters.


The IPO is likely to face volatile equity markets amid the marketing of other large raisings, such as the monster $5 billion IPO of Scientific Games Corp's Australian unit and .


The disability specialist recruiter known as APM has grown rapidly in the past two years and bankers handling its IPO are meeting potential cornerstone investors this week, the sources said, seeking anonymity as the plans are private and incomplete.


The Perth-based company is partly owned by U.S. buyout firm Madison Dearborn Partners LLC, alongside its founder and former occupational therapist Megan Wynne, it says on its website.


Representatives of APM and Madison Dearborn declined to comment.


With operations in Australasia, Britain, Europe and the United States, the company aims to use IPO proceeds to fund growth in global operations, the sources said.


It expects to grow revenues by about 30 percent to attain net profit of about A$150 million in fiscal 2022, they said.


Depending on market conditions, it plans to lodge a prospectus with the corporate regulator and hopes to be listed before the end of November, they added.