Australia's Aconex to raise A$120 mln in IPO, setting stage for IT listings

SYDNEY, Nov 18 (Reuters) - Australia’s Aconex Ltd said on Tuesday it is seeking to sell a 45 percent stake in an initial public offering that would value the construction software company at A$312 million($272 million) ahead of more IT-related listings in the next few months.

U.S. private equity investor Francisco Partners plans to exit its 24 percent stake in Melbourne-based Aconex via the sale, which will also comprise a 22 percent stake from the company’s founders, directors and employees.

A total of 73.7 million shares will be offered for A$1.90 each, Aconex said, raising up to A$140 million. The IPO is awaiting regulatory approval.

Although relatively small, the listing is likely to be closely watched by investors ahead of the planned stake sales by larger Australian tech companies including accounting software maker MYOB Ltd. Banking sources have said MYOB is planning an IPO in early 2015 which would value the company at A$3 billion.

New Zealand healthcare software developer Orion Health Group Ltd plans to raise $NZ120 million in a listing later this month. Online clothing store SurfStitch also plans to list in December with an equity valuation of up to A$463 million, according to JP Morgan which is running the IPO.

1 US dollar = 1.1467 Australian dollar Reporting by Byron Kaye; Editing by Miral Fahmy