$50 MILLION FLOAT UNDER WAY – Kogan.com Brands Itself As ‘Nextgen’ Online Retailer

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Kogan.com – which yesterday released its prospectus for a $50 million float on the ASX sharemarket – is billing itself as a “next-generation” online retailer.“In combining the data analytics opportunity
offered by online retail with the deep technological expertise of its
management and team, Kogan.com has created a vertically-integrated business
model with a market-leading private label capability” chairman Greg Ridder
said yesterday, commenting on the prospectus.

“This is complemented by a compelling range of in-demand Australian and
international third-party brands, supporting Web site traffic and cash
generation.

“This combination is unique among Australian online retailers and is a
sustainable source of competitive advantage.”

The public is not being offered the chance to subscribe for Kogan shares, which
are priced as expected at $1.80 apiece. The offer is limited to brokers,
financial institutions and staff. It has already been over-subscribed fourfold,
according to market reports

Kogan will have a market capitalisation of $168 million when it begins trading
on June 30.  The company has said it plans to spend most of the $50
million float proceeds on marketing and investment in new products.

The two current owners, founder Ruslan Kogan and CFO David Shafer, will retain
69 percent of the action,

The prospectus does not cover the most recent initiatives by Kogan.com,
including acquisition of the Dick Smith online business and moves into the
travel and mobile markets, apart from saying those matters are being pursued
along with “expansion of Kogan.com’s higher-margin product ranges, which
include its private label and its domestic third party branded products.

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