(Bloomberg) -- Australian security software firm Nuix Pty. is seeking to raise A$975.3 million ($705.2 million) after setting the price for the country's biggest initial public offering of the year.
The Macquarie Capital-backed company plans to sell A$100 million of new shares, along with A$875.3 million-worth of shares from existing owners at A$5.31 each, according to terms of the deal obtained by Bloomberg News.
Nuix's offering would eclipse a recent spate of increasingly large share debuts in Australia to become the nation's biggest IPO of 2020. The software developer took over the crown that was briefly occupied by Dalrymple Bay Infrastructure Ltd., a coal terminal operator backed by Brookfield Asset Management Inc. that have priced their A$656 million IPO.
Read more: Australia Joins Global IPO Mania With Best Month in 2020
Macquarie invested in Nuix in 2011, whose customers include Amazon.com Inc., Airbus SE and Barclays Plc, according to its website.
The terms circulated on Friday show the share sale will value Nuix at nine times the company's revenue forecasts for FY2021, giving it an enterprise value of about A$1.74 billion, in line with guidance on the offering Bloomberg News reported on Wednesday.
Morgan Stanley and Macquarie Group are the joint lead managers of the offering.
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