Ironbridge-backed Monash Group’s IPO several times oversubscribed

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australia_koala_170sqPrivate equity-backed in-vitro fertilisation company Monash IVF Group‘s IPO has reportedly been several times oversubscribed.

The company’s private equity backer Ironbridge is set to sell A$300m via the IPO and the shares will be priced at between A$1.80 and A$1.90 apiece, said Reuters, citing a banker working on the deal.

Monash, which claims to have completed the first IVF pregnancy in 1973, has set the indicative price range for the IPO at A$1.65 to A$1.95 per share.

The company is expected to make its debut on the Australian Securities Exchange on June 24.

Ironbridge is expected to retain an 11 per cent interest in Monash, said the report.

Last year Ironbridge agreed to sell New Zealand-based waste companyEnviroWaste to CKI for NZ$501m.

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