Outdoor company QMS Media has commenced trading on the Australian Securities Exchange (ASX).
It follows a successful initial public offering (IPO) which raised $90 million at $0.65 per share, implying a market capitalisation of $163.5 million.
QMS Media founder and MD Barclay Nettlefold said the listing marks a major step in the growth and development of the business.
“We have been greatly encouraged and energised by the strong support for our IPO, and we are pleased to welcome our new shareholders to the business,” Nettlefold said.
“QMS Media has secured an extremely attractive platform of outdoor media assets, and the team remains focused on growing and enhancing our portfolio over the coming years to deliver a compelling offer to our customers and strong and sustainable returns for our shareholders.”
QMS which specialise in digital outdoor, static roadside in Australia and strategic retail and transit outdoor in New Zealand and Indonesia, is now focused on its business growth strategy which has seen new digital developments in five locations in the past five years.
It now has 21 digital landmark billboards with 33 in total planned by 30 June 2016.
QMS Media chairman Wayne Stevenson said the aggressive strategy will be supported by a strong management team and a highly credentialed board with experienced in the finance, legal, advertising and marketing industries. In addition, Nettlefold has rolled his ownership in the business into shares in the newly listed entity.
“Barclay and his executive team are highly experienced operators in the outdoor media industry, each with a minimum 10 years' experience,” Stevenson said.
“I am confident that he company has the right assets and the right people in place to deliver the business' strong development-led growth agenda.”
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