Procurri: Premium IPO valuation for networking equipment supplier
- IPO of DeClout's 69%-owned subsidiary will comprise of 68.9m new shares at $0.56 apiece. Post offering, DeClout will hold a 46.5% stake, free float: 33.6%
- Procurri supplies data centre equipment and provides maintenance services
- FY15: Earnings jumped 2-fold to $8.8m on $122.8m (+59.7%) revenue. Mainly attributable to inorganic growth
- FY16E: To book $2.2m in listing expenses. Relatively small order book of $6.8m
- Offers exposure to emerging trends such as cloud computing
- Public tranche (6.9m shares) open for balloting from 13 Jul till 18 Jul (noon). Trading to commence on 20 Jul
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