Spotless Group yesterday lodged it's prospectus with ASIC showing plans to raise up to a $1billion via an IPO

Spotless Group yesterday lodged it's prospectus with ASIC showing plans to raise up to a $1billion via an IPO. Spotless is one of Australia's largest catering businesses and the listing would give it a market value between $1.8bilion and $1,9billion. This week CEO Bruce Dixon will present to both retail and institutional investors outlining his plans to continue the success he has achieved to date. Under his tenure the business has already been able to double the companies EBIT. Pre IPO market sounding has yielded favourable feedback with one broker saying the business model is sound, the balance sheet is robust and the short/medium term growth outlook does look compelling. Interestingly there has also been positive feedback on the escrow details of the exiting private equity fund (Pacific Equity Partners). This is often a sticky point with investors cautious of Private Equity looking to make a swift exit.