Wilsons acted as the Sole Lead Manager and Underwriter to Nuchev’s $117.0 m IPO.
Ben Dingle (Nuchev CEO), Justin Breheny (Nuchev Chairman), Anna Guan (Wilsons Research Analyst), Richard Sherman (Wilsons Head of Corporate Finance Origination).
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 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’ 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.
“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 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/asx-announcements/
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