According to theaustralian, the initial public offering (IPO) of 117.3 million new shares at $2 per share for manufactured home community (MHC) owner Gateway Lifestyle will bring in $234.7 million gross. The total will comprise 255.2 million shares, including existing shares, equating an overall value of $510 million.
Gateway’s price will be the equivalent of 12 times its forecast earnings before interest, tax, depreciation and amortization for the fiscal year 2016. MHProNews understands Gateway owns and operates 36 manufactured home communities throughout Australia. ##
(Photo credit: international.au–Australian manufactured home community)
Article submitted by Matthew J. Silver to Daily Business News-MHProNews.
