Nido Education

Canaccord Genuity acts as Joint Lead Manager to Nido Education (ASX:NDO) on its $99m IPO capital raising

Canaccord Genuity is pleased to announce it has acted as Joint Lead Manager, Underwriter and Bookrunner to Nido Education Limited (“Nido”), (ASX: NDO) on its initial public offering of new shares to raise $99.2 million – the second largest IPO on the ASX so far this year.

Nido is one of the fastest growing premium childcare and early childhood education providers in the Australian market. Nido owns and operates 28 suburban childcare centres providing long day care and early-stage education to children aged 0 to 12 years of age. They also manage an additional 41 centres.

Nido plans to continue expanding its Centre portfolio through its Incubator relationships. Incubators are third parties that take on the financial risk of developing Centres from greenfield sites (where the site has been developed and built from the ground up) with the assistance and management of Nido, and once they mature, Nido has an exclusive call option to acquire the Centres at a pre agreed multiple of AEBIT. Nido manages all aspects of each Centre from commencement which leads to little or no integration risk for Nido post the acquisition.

IPO proceeds will be used to acquire a further 24 centres from their existing incubation pipeline, taking the total number of owned, operated and managed centres to 93.