My Food Bag valued at $450m in $340m IPO raise

Thu, 11 Feb 2021

My Food Bag will list on the NZX at $1.85 per share, giving the meal-kit company a market capitalisation of $449 million.The listing price would give the firm an earnings ratio of 22.4 times its forecast 2022 financial year earnings and a gross dividend yield of 5 percent.Kiwi fund managers such as Milford Funds and Harbour Asset Management have committed to bid for a 5 percent stake in the company with an institutional bookbuild on Feb. 19.Additionally, more than 10,000 customers and team members have registered for priority allocation in the...

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