QMS Media, one of Australia’s leading outdoor media companies boasting a national portfolio of outdoor advertising assets, including an attractive portfolio of high-yielding and long tenure landmark digital and static billboards, commenced trading on the ASX on June 29.
The listing follows its successful initial public offering, which raised $90 million at $0.65 per share. The stock performed well in its first day of trading, starting at a three cent premium to its issue price and closing more than nine per cent higher, at 71 cents.
QMS plans to fund acquisitions and roll out more digital billboards as it seeks to expand across the Asia Pacific region. In addition to Australia, it currently operates static and digital billboards as well as transport and retail advertising space in New Zealand and Indonesia.
The development strategy is well underway, with the launch of three new digital developments in the past five weeks in Melbourne and one each in Brisbane and Adelaide. The completion of these developments will give QMS Media 21 digital landmark billboards operating in Australian major capital cities. The company expects to have 33 landmark digital billboards operational by 30 June 2016.
Barclay Nettlefold, QMS Media founder and managing director, said, “Today is a major step in the growth and development of the QMS Media business. We have been greatly encouraged and energised by the strong support for our IPO, and we are pleased to welcome our new shareholders to the business.
“QMS Media has secured an extremely attractive platform of outdoor media assets, and the team remains focused on growing and enhancing our portfolio over the coming years to deliver a compelling offer to our customers and strong and sustainable returns for our shareholders.”
QMS Media chairman Wayne Stevenson said the execution of the business’ growth strategy would be supported by a strong and experienced management team.
“Barclay and his executive team are highly experienced operators in the outdoor media industry, each with a minimum 10 years’ experience. I am confident that the company has the right assets and the right people in place to deliver the business’ strong development-led growth agenda,” he said.
QMS Media has seen over 180% growth in its static and digital billboard portfolio in the last 12 months. Its listing comes after successful floats of larger rivals APN Outdoor and oOh!Media.