Corporate
Nuchev IPO: Wilsons Advisory Outlook
Fri 13th December, 2019

Wilsons Advisory acted as the Sole Lead Manager and Underwriter to Nuchev’s $117 m IPO.

Who are Nuchev?

Nuchev Limited (ASX: NUC) is an Australian-based food business focused on the development and sale of goat infant formula (GIF) under the Oli6® brand across multiple sales channels in Australia and China.

The Transaction Overview

Wilsons Advisory acted as the Sole Lead Manager and Underwriter to Nuchev’s $117.0 m IPO which saw Nuchev list on the ASX on 9 December 2019.

Wilsons Advisory’s Investment Highlights

Nuchev has a significant market opportunity in goat infant formula, with brand positioning as a goat specialist and differentiated products supported by research.

Growing market opportunity for premium infant formula

Global GIF market is forecast to grow at an estimated CAGR of 16.6% from A$6.3 billion in 2018 to A$13.6 billion by 2023, predominantly driven by the Chinese market.

Oli6® goat formula is a credible, premium, differentiated product – supported by the science

GIF offers natural health benefits to infants - RMIT University has published scientific laboratory studies supporting the potential health benefits of Oli6®.

Oli6® is a trusted, Australian made and owned brand

Oli6® brand benefits from the premium position of GIF, with growing awareness of GIF health benefits – attractive to Chinese mothers and channel partners.

High quality, established supply chain and distribution network

Quality and scalable supply chain – capital light model, with significant excess capacity, and supported by in-house experience and capability.

Proven management and board with deep industry experience

Founded and led by Ben Dingle, co-founder of Synlait Milk, and supported by a highly experienced management team and Board.

Sales volume and revenue growth

Nuchev has achieved historic sales volume and revenue growth.

Wilsons Advisory Commentary

“We are pleased to be able to bring Nuchev to the ASX. Wilson’s mission is simple – we are committed to our whole of firm approach to ensure a successful outcome for clients – every time. Our support in the listing of Nuchev supported this approach.”

- Rob Snow, Head of Corporate Finance

“Nuchev is a high-quality business, run by a highly experienced management team & board. Wilsons Advisory is very proud to have been involved and assisted Nuchev at IPO, and looks forward to partnering with the business in the years ahead.”

- Richard Sherman, Head of Corporate Finance Origination

Past performance is not a reliable indicator of future performance. For further information regarding Nuchev please consider the Prospectus at http://investor.nuchev.com.au/...

For more information, get in touch:

rob.snow@wilsonsadvisory.com.au / (02) 8247 6645;

richard.sherman@wilsonsadvisory.com.au / (03) 9640 3879

About Wilsons: Wilsons is a financial advisory firm focused on delivering strategic and investment advice for people with ambition – whether they be a private investor, corporate, fund manager or global institution. Its client-first, whole of firm approach allows Wilsons to partner with clients for the long-term and provide the wide range of financial and advisory services they may require throughout their financial future. Wilsons is staff-owned and has offices across Australia.

Disclaimer: This communication has been prepared by Wilsons Advisory and Stockbroking Limited (ACN 010 529 665; AFSL 238375) and/or Wilsons Corporate Finance Limited (ACN 057 547 323; AFSL 238383) (collectively “Wilsons”). It is being supplied to you solely for your information and no action should be taken on the basis of or in reliance on this communication. To the extent that any information prepared by Wilsons contains a financial product advice, it is general advice only and has been prepared by Wilsons without reference to your objectives, financial situation or needs. You should consider the appropriateness of the advice in light of your own objectives, financial situation and needs before following or relying on the advice. You should also obtain a copy of, and consider, any relevant disclosure document before making any decision to acquire or dispose of a financial product. Wilsons’ Financial Services Guide is available at wilsonsadvisory.com.au/disclosures.

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