Keypath Education: Slides 8% in Australian market debut

Keypath Education International

02/06/2021 05:08

** U.S-based Keypath Education International  KED.AX  slides
as much as 8.4% to around A$3.4 in Australian market debut 
    ** Online education program creator's shares were offered at
A$3.71 in its Macquarie-led IPO, raising A$212.1 mln ($164.70
mln)  urn:newsml:reuters.com:*:nL3N2NK0R7
    ** KED last down 4.6% at A$3.54, still lower than IPO price
    ** This is Macquarie Capital's second float since it jointly
brought Nuix Ltd  NXL.AX  to the market last December in a
stellar debut, only for the software provider to now trade at
less than half its IPO price
    ** Keypath is yet to turn a profit since its founding in
2014, and forecasts losses in both fiscal 2021 and 2022 -
prospectus
    ** Sees pro forma revenue at $91.1 mln in year ended June -
prospectus 
    ** Says 45% of KED's revenue is from Australia, where
universities are under pressure from border closures and an
absence of international students, a key source of income

($1 = 1.2878 Australian dollars)

 (Reporting by Nikhil Kurian Nainan)
 ((NikhilKurian.Nainan@thomsonreuters.com; Twitter:
@NikhilKurianN))