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Viral mattress brand makes ASX debut
Koala raised $20 million in new capital through its ASX IPO, valuing the company at $305 million and supporting plans to reduce debt and expand internationally.
- Mattress retailer Koala hit the ASX on Tuesday, raising $20m in fresh capital through its long-awaited initial public offering under the ticker KOA.
- Founded a decade ago in Byron Bay by childhood friends Dany Milham and Mitch Taylor, the company began with just $2000 and vacuum-sealed mattresses before expanding globally.
- Sydney fund manager Perennial Partners emerged as the largest shareholder at 22.7 per cent, while the $68m prospectus valued the business at $305m with shares priced at $3.40 each.
- Founders' fortunes are cemented by the listing, with Milham's stake worth about $63m and Taylor's near $54m, while Koala will use $10.1m to wipe debt from its balance sheet.
- Financial forecasts show Koala expects revenue to reach $332m, up 20 per cent on FY2025, as Griffith University's Graeme Hughes noted the company is bucking industry trends while rebuilding supply chains through Southeast Asia.
12 Articles
12 Articles
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I won't be buying the Koala stock IPO. Here's why
It's always exciting when a big-name company conducts an initial public offering (IPO) on the ASX. This week, the latest company set to go through an IPO is furniture company, and now stock, The Koala Company Ltd (ASX: KOA). IPOs are blockbuster events, as they mark the transition, listing, and debut of what is usually a private company into the public markets. An IPO is the first chance most ordinary retail investors have to buy shares in a com…
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