viewProactive Australia

Smiles Inclusive completes $35 million IPO, trading up 10%

Shares last traded at $1.10, 10% higher than the company's $1.00 IPO price.

lady in dentist chair
An acquisition has already been made adding a practice based in Brisbane

Smiles Inclusive Ltd (ASX:SIL) successfully listed on the ASX last Friday after raising $35 million in an initial public offering (IPO) priced at $1 per share.

Funding from the IPO was for the dentist roll-up to acquire a portfolio of 52 practices under a unique partnership model.

49 of the 52 dental practice acquisitions in the initial portfolio were completed prior to listing with the remainder expected to complete imminently.

More than 30% of practices in the initial portfolio have already integrated onto the centralised practice management platform and the national Totally Smiles re-branding is underway.

Acquisition of new dental practice already made post-listing

Furthermore, the company has signed a binding agreement to acquire its first practice post-listing located in Brisbane.

The practice is being acquired for $3-3.5 million cash to be funded using the current balance sheet.

The acquisition remains subject to confirmatory due diligence and other conditions but is expected to complete within two weeks of listing.

Following in the success of other ASX dental roll-ups

Smiles will hope to endure the same success that other listed dental portfolios have had in Pacific Smiles Ltd (ASX:PSQ) and 1300SMILES Ltd (ASX:ONT).

Since listing in December 2014 at $1.30, Pacific Smiles is up 26% and since listing in March 2005 at 80 cents, 1300SMILES is up nearly 700% or 8x.

Physiotherapy and podiatry practice roll-up Healthia is expected to IPO later this year.

Quick facts: Proactive Australia

Price: - -

Market: ASX
Market Cap: -

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...


archTIS makes transformative move in acquiring Nucleus Cyber

archTIS (ASX: AR9) CEO Daniel Lai joins Steve Darling from Proactive to share details of a transformative acquisition with the company entering a binding term sheet to acquire global information protection business Nucleus Cyber. Lai discusses why this is a key move for the company...

13 hours ago

2 min read