Accounting giant MYOB is meeting with fund managers next week as it gears up for a potential $3 billion float on the ASX before the second quarter is out.
Joint lead managers America Merrill Lynch, Citigroup, Goldman Sachs and UBS have scheduled meetings from Monday between MYOB bosses and both domestic and international investors.
The raising is reportedly between $600 million and $1 billion. MYOB’s private equity owner Bain Capital is expected to retain a significant portion of the company.
Bain bought the accounting software company back in 2011 for $1.2 billion.
A source close to the matter told Business Insider the meeting next week is a “non-deal roadshow” and it isn’t specifically about any offering.
Rather the meetings will be used to discuss business strategy and will cover financial metrics and user numbers.
He said the whole point of the exercise is to build relationships in the market.
Timings for the book-building process are yet to be finalised.