Mobile service provider Amaysim has lodged an initial public offering (IPO) prospectus with the Australian Securities and Investments Commission.
The IPO is expected to raise AU$207 million, based on a price of AU$1.80 per share, which equates to a market capitalisation on listing of AU$317.1 million.
According to Amaysim, its founders will maintain a stake in the company, and have agreed to a voluntary escrow agreement, which will prevent them from selling any of their shareholding until the company reports its full-year earnings for the 2016 financial year, other than in respect of "certain occurrences".
Amaysim CEO Julian Ogrin said he is pleased with the decision, and looks forward to the growth of the company.
"Amaysim has developed into a compelling challenger brand with the strength of our online-led business model allowing us to provide a superior user-friendly customer experience in Australia's fast-evolving mobile services market," he said.
"We're excited about the IPO, welcoming new shareholders and realising the opportunities an ASX listing presents to Amaysim for additional financial flexibility and improved access to capital markets."
As part of the IPO, the company has announced the appointment of three independent non-executive directors.
Andrew Reitzer, current chairman of SG Fleet and former Metcash CEO, has been appointed as independent, non-executive chairman. He will be joined by Association for Data-Driven Marketing and Advertising (ADMA) CEO Jodie Sangster, and current independent non-executive director of OrotonGroup Maria Martin, as independent, non-executive directors. Meanwhile, current Amaysim CEO and managing director Julian Ogrin has been appointed as executive director.
Existing directors Peter O'Connell, Rolf Hansen, and Thorsten Kraemer will continue to serve on the board, the company said. Amaysim co-founder and current chairman Peter O'Connell will now become a non-executive director.
Since April, Amaysim has been providing its mobile service plans using the Optus 4G Plus network, after signing a new deal with Australia's second-largest telecommunications company last December.