Audinate on the rise after IPO Corporate30 Jun 2017

Australian audio tech outfit Audinate appointed Shaw and Partners as Sole Lead Manager and Underwriter to their recent IPO. Shares commenced trading on the ASX on 30 June 2017 and were up 25% from the subscription price at $1.53 per share at the close.

 

Audinate raised $21m at $1.22 per share, predominantly raising capital to expedite the growth trajectory of the business. The IPO was priced at 3.1x FY2018 revenue and 4.1x FY2018 gross profit.

 

Audinate is the leading provider of professional digital audio networking technologies globally.

 

Audinate's Dante platform distributes digital audio signals over computer networks, and is designed to bring the benefits of IT networking to the professional AV industry.  

 

Dante is used in over 1,100 professional audio products manufactured by market leading brands including Yamaha, Bose, Bosch, Shure and Sennheiser.
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