Garry Hounsell-chaired skincare business Hiro reckons its “mini-BWX” pitch is compelling enough to pull it out of the initial public offering pipeline and in front of listed equities investors.
Fund manager sources told Street Talk that stockbroker MST Financial had started locking in investor meetings next week to try and turn Hiro’s dream of a backdoor listing on the ASX-boards into reality.
The company’s said to be making about $100 million revenue a year from selling products that run the gamut from dishwashing liquid to lipsticks. More than 7000 retail stores stock Hiro’s brands like Billie Goat, Actizyme, Orange Power, Orange Choice, Trix, Aware Sensitive, Make Up Design and Ultra3. It’s a tough market for new listings but Hiro’s management and investor lineup may help open doors. It drafted Garry Hounsell as chair and Steven Chaur as the chief executive earlier this year.more to come
writes on technology, internet culture, cryptocurrencies and software from our Sydney newsroom. She has previously covered global capital markets and economics.
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