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ACL - Australian Clinical Labs

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Australian Clinical Labs is a leading private provider of pathology services in Australia. ACL annually collects, analyses and reports on 8.3 million episodes via its national network of 995 collection centres, 30 clinics and 86 accredited laboratories.

ACL is one of the largest private pathology providers to hospitals nationally, servicing over 90 private and public hospitals. In its four established regions of Western Australia, Victoria, South Australia and the Northern Territory, ACL has an equivalent market position in community pathology to Sonic Healthcare and Healius. ACL also has a growing presence in New South Wales and the Australian Capital Territory and has recently expanded into Queensland.

ACL had pro forma revenues of $595.1 million and pro forma EBITDA of $178.6 million for the 12 months to 31 December 2020.

It is anticipated that ACL will list on the ASX during May 2021.

 

Dona Ferentes

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Listing date14 May 2021 12:00 PM ##
Contact details (03) 9538 6777
Principal ActivitiesProvision of pathology services
GICS industry groupTBA
Issue Price$4.00
Issue TypeOrdinary Fully Paid Shares
Security codeACL
Capital to be Raised$408,600,000
Expected offer close date12 May 2021
UnderwriterThis offer is fully underwritten. Merrill Lynch Equities (Australia) Limited and Goldman Sachs Australia Pty Ltd (Joint Lead Manager)
 

Dona Ferentes

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another overpriced IPO?

Priced at 4.00, opened on Friday 14 May at $3.80 and a steady decline most of the trading day, to close at $3.42
 
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Covid testing is an amazing cash cow for the labs (SHL, HLS, ACL).
The omicron variant has seen testing numbers explode. I'm in for the feast while we can get it. Sold half on today's spike.

acl2012.PNG


I missed HLS as the rally started too low.
 
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Sale of shareholding in Australian Clinical Labs Limited (ACL) (ASX:ACL)

We are writing to inform you that Crescent Capital Partners Management Pty Ltd (CCPM) in its capacity as manager of the interests held by the Crescent Entities and Crescent Co-Investors1 (together the Crescent Interests), has entered into a block trade agreement with Goldman Sachs Australia Pty Ltd providing for the sale of 14.3% of the Crescent Interests’ shares (being 28,888,889 shares) in ACL today, via an underwritten block trade.
On completion of the sale, the Crescent Interests will hold 30.1% of the issued shares in ACL. Attached is a media release from CCPM in relation to its holding in ACL.

Yours sincerely CRESCENT CAPITAL PARTNERS MANAGEMENT PTY LTD

DYOR

i do not hold this share

movement at the station ??
 
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Update on Crescent Entities and Crescent Co-Investors’ Shareholding
Crescent Capital Partners Management Pty Ltd (“Crescent”) in its capacity as manager
of the interests held by the Crescent Entities and Crescent Co-Investors1
(“Crescent
Interests”) today announced that it has entered into an underwriting agreement to sell
14.3% of the issued shares outstanding in Australian Clinical Labs Limited (ASX:ACL)
(“ACL” or the “Company”).
On completion of the sale pursuant to the underwriting agreement, the Crescent Interests
will hold 30.1% of the issued shares outstanding in aggregate.
29.9 million shares held by the Crescent Interests will be released from the final tranche
of voluntary escrow at IPO at the release of the 31 December 2022 interim report in
February 2023.
It is Crescent’s view that the Crescent Interests’ holding to date has constrained ACL’s
trading liquidity and index inclusion. The primary purpose of the sell-down is to enhance
liquidity and ACL’s eligibility for inclusion into the S&P/ASX 300 index at the upcoming
September quarter rebalance.
Crescent remains supportive of ACL and has a high level of conviction around the ongoing
performance and value of the Company. Crescent is committed to maintaining its
representation on the Company’s Board of Directors.
Following the sell-down announced today and outside of any corporate activity associated
with ACL, Crescent has no intentions to seek further liquidity of the Crescent Entities’
remaining shareholding at this current time. This position will not be reviewed before the
release of the 31 December 2022 interim report in February 2023.
For and on behalf of Crescent

DYOR

i do not hold this share
 
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SECOND LETTER RECEIVED FROM CRESCENT CAPITAL PARTNERS Australian Clinical Labs Limited (ASX: ACL) (ACL or the Company) provides the market with a copy of a second letter which it has received from a shareholder, Crescent Capital Partners.


Partial sale of Crescent Entities and Crescent Co-investors’ Stake in Australian Clinical Labs Further to its announcement dated 12 August 2022, Crescent Capital Partners Management Pty Ltd (“Crescent”) today announced that the sale of 14.3% of issued shares outstanding in Australian Clinical Labs Limited (ASX:ACL) (“ACL” or the “Company”) by Crescent Entities and Crescent Co-Investors 1, has been completed. The aggregate sale proceeds to be received by Crescent Entities and Crescent CoInvestors are A$130.0m, representing A$4.50 per ACL share. Crescent Entities and Crescent Co-Investors retain in aggregate 30.1% of the issued shares outstanding. For and on behalf of Crescent,

crikey .. almost pen-pals
 
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Sale of shareholding in Australian Clinical Labs Limited (ACL) (ASX:ACL)

We are writing to inform you that Crescent Capital Partners Management Pty Ltd (CCPM) in its capacity as manager of the interests held by the Crescent Entities and Crescent Co-Investors1 (together the Crescent Interests), has entered into a block trade agreement with Goldman Sachs Australia Pty Ltd providing for the sale of 14.3% of the Crescent Interests’ shares (being 28,888,889 shares) in ACL today, via an underwritten block trade.
On completion of the sale, the Crescent Interests will hold 30.1% of the issued shares in ACL. Attached is a media release from CCPM in relation to its holding in ACL.

Yours sincerely CRESCENT CAPITAL PARTNERS MANAGEMENT PTY LTD

DYOR

i do not hold this share

movement at the station ??
Crescent did float them May last year so they are probably coming off escrow and progressively liquidating the remainder.

I tend to put specialist buy out firms as savvy as Crescent in the bucket of "Don't buy what they're selling. They're getting out for a reason and they're experts in this space."
 
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from memory GS are quite willing to short-sell ( and lend out to short-sellers )

so that would certainly help liquidity ( but maybe not the SP )

the talk about potential inclusion in the XKO ( ASX top 300 ) are they trying a pump ??

will check ( over the weekend ) if they crunch numbers attractively , lord knows how many new mystery illnesses are coming in the next two years , but will keep my caution level high

there is bound to be some scandals leaking out of labs sooner rather than later
 
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