Bingo Industries has announced an initial public offering of 244.2 million new Shares at the Offer Price of $1.80 per Share (“Offer”). The Offer is expected to raise approximately $439.5 million. 

Bingo is a leading waste management and recycling company operating predominantly in New South Wales, with capabilities across the waste collection, processing, separation and recycling components of the waste value chain.

Bingo operates a network of nine strategically located resource recovery and recycling centres in New South Wales, a modern fleet of collection vehicles, and a bin manufacturing and supply operation with over 17,800 bins across a range of types and purposes, which are distinctively branded and maintained.

Bingo has grown into a vertically integrated waste management operator. This has occurred via significant organic growth supported by strategic bolt-on acquisitions. Bingo now has a broad capability across the waste management value chain and a core focus on diverting waste from landfill that could otherwise be recovered or recycled.

The Shares being offered under the Offer will represent 70% of the Shares on issue at Completion. Funds raised will allow Existing Shareholders to realise some of their investments, purchase of the IPO Properties, provide access to capital markets, and repay existing debt facilities.

Macquarie Capital (Australia) is the Lead Manager.

For further information, please see the prospectus at https://www.bingoindustries.com.au/