A $1.1b lesson in what it takes to unfreeze the IPO market

Chanticleer

FDC, which has just made its market debut, is a meat-and-potatoes business run by a plain-speaking 40-something year old who started with the company as a cadet.

A $1 billion construction and office fitout business cannot end Australia’s public equity market woes, but it can reaffirm what institutional investors want to see in IPOs.

Investors want founders. They want an easy-to-understand, easy-to-verify and growing business with a long enough track record to know it’s not a get-rich-quick scheme. They want listed rivals for comparisons, a solid balance sheet and a management team that’s all-in.

Copy link