Godfreys To Vacuum Up A $77.7 Million Stock Market Float

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Godfreys, the retailer known for its loud television advertisments where a vacuum cleaner sucks up a bowling ball, is to float on the ASX to raise funds for expansion.

The retailer is behind some of Australia’s most known brands including Hoover, Sauber, Wertheim and its commercial brand Pullman.

Godfreys has a network of 209 retail stores.

The IPO will raise $77.7 million through the issue of 28.2 million shares at $2.75 a share.

This represents a forecast 2015 financial year price earnings ratio of 9.05 times.

Chairman Rod Walker says the markets serviced by Godfreys are expected to experience long term growth with the number of Australian households increasing by an estimated 38% between 2010 and 2031.

The shares are expected to start trading on December 15.

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