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Quadrant stake sale in iSentia IPO sees share price soar

5 Jun 2014

isentiaShares of Australian media monitoring business iSentia rose more than 20 per cent this morning in the wake of Quadrant Private Equity selling almost 70 per cent of the business through its IPO.

Reuters reported that the company’s stock was up by as much as 23 per cent, and was at 19 per cent at 0425 GMT.

That latter mark gave the company a market capitalisation of about A$483m, more than three-times the A$160m Quadrant paid for the company in 2010.

Australian private equity firm Quadrant took only a month to close its seventh fund on A$850m ($759m) earlier this year.

The fund, which was two times oversubscribed by both Australian and foreign investors, follows Quadrant’s sixth fund, which was closed with commitments of A$750m in 2010.

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