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NEWS
Apollo Motorhomes goes public
You will soon be able to buy shares in one of Australia’s largest RV companiesBrisbane-based Apollo, which runs a large, multi-national motorhome rental fleet as well as being the Australian distributor for Winnebago and Adria, will raise $50 million when it lists on the Australian stockmarket in early-November.
At an offer price of $1 per share, Apollo Tourism & Leisure Ltd (ATL) is expected to have a market capitalisation of $144.96 million on listing, and a price earnings ratio of 11.72 times based on a forecast FY17 net profit after tax of $12.4 million.
As well as selling and renting caravans and motorhomes in Australia, New Zealand and the USA, Apollo has a 20.22% investment in CanaDream Corporation which operates 1000 rental vehicles in Canada.
Started in 1985 when Gus and Carolyn Trouchet rented RVs from their family home in Brisbane, the family business was taken over in 2001 by sons Luke Trouchet, who is CEO and Karl Trouchet, the chief financial officer.
Apollo has more than 300 staff in four countries, and plans to boost revenue from $156 million in 2015/16 to $183 million this year.
The company has manufacturing operations in Brisbane and Auckland and a rental fleet of 3000 vehicles. It’s hoping to boost market share in the lucrative US rental market from around nine per cent, by establishing new outlets in Florida and New York.
Around 35 per cent of total shares on issue will be taken up by new shareholders, with the Trouchet family retaining about 65 per cent of the business.
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Written byCaravancampingsales Staff
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Please see our Editorial Guidelines & Code of Ethics (including for more information about sponsored content and paid events). The information published on this website is of a general nature only and doesn’t consider your particular circumstances or needs.
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