A roll-up of private tertiary training providers is being prepared for a sharemarket float that could value the combined business at up to $250 million, according to market sources.
It's understood to be the latest move in this country by Kern Group, the Australian company behind last year's listing of New Zealand early childhood education provider Evolve Education Group.
Base Education hoped to raise up to $100 million in new capital through an initial public offering (IPO), some of which would be used to fund the acquisition of about five private training providers across New Zealand, said a source.
The source said some of the facilities' existing owners would receive Base Education shares in return for their holdings, while others would receive cash and shares.
The existing owners are expected to retain a roughly 50 per cent stake in the company after the IPO.