Furniture retailer Koala launches $68m IPO, targets 31 March float
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The news: Furniture company Koala has announced its initial public offering, setting out plans to list on the ASX on 31 March under the ticker ‘KOA’ and targeting a $68 million raise.
The numbers: Koala has priced 20 million shares at $3.40 each, with an implied market capitalisation of $305 million.
The company is forecast to generate $330 million in revenue and $25 million in EBITDA in FY26.
Koala, which said it secured committed investment from a number of domestic and international institutional investors, will allocate $20 million in primary proceeds to repay debt, settle putted warrants, and pay transaction costs.
The context: Founded in 2015 by CEO Dany Milham and co-founder Mitch Taylor with a single mattress product, Koala has since expanded into a range of categories, including sitting, bedroom, living, outdoor furniture and homewares.
It currently operates in four markets: Australia, Japan, the US and the UK.
The retail offer period for the IPO is set to open on 23 March and close on 24 March.
Highbury Partnership is acting as the sole financial adviser to Koala. Barrenjoey has been hired as sole underwriter and joint lead manager. Morgans is acting as joint lead manager.
What they said: “As we enter the next phase as an ASX-listed company, our priorities are clear: strengthening core categories, expanding into international markets, deepening customer relationships, and enhancing operating leverage through scale and innovation,” said Milham.
“We will pursue growth with discipline and focus on delivering sustainable long-term returns.”
The source: Koala media release
