Online electronics retailer Kogan will list on the ASX on June 30 in an initial public offering that values the company at $168 million.

Kogan lodged its prospectus with ASIC on Thursday for an initial public offering at $1.80 per share.

The move, which follows months of speculation that the 10-year-old company was planning its market debut, will raise $50 million to fund growth, including investment in new products and categories.

Kogan’s planned IPO follows its recent acquisition of Dick Smith’s online business after the former publicly listed retailer collapsed, forcing the closure of its stores. The intended listing also coincides with rising speculation that rival appliances retailer, The Good Guys, is about to launch its own IPO.

Kogan is expected to have a market capitalisation of $168 million, which amounts to 20-times its forecast earnings before interest, tax, depreciation and amortisation.

The company, founded by Ruslan Kogan in his parent’s garage in 2006, makes about $200 million in revenue a year. It currently has two major shareholders – Kogan himself, and the company’s executive director, David Shafer, who are expected to hold onto a large portion of their own stakes in the business.

The online retailer is believed to have already attracted about $30 million in cornerstone support from Australian fund managers.

“Kogan.com has become a challenger brand that stands for price leadership through digital efficiency,” said Kogan. “Our goal is to make in-demand products and services more affordable and accessible. We want to ensure that everyone who invests in Kogan.com and becomes a part of our story, believes in our mission, learns about what makes us tick, and understands why we have had 52 million visits to Kogan.com’s core website channels in the past 12 months.”

The founder and CEO said that Kogan has been been EBITDA positive since inception and not received external equity funding over the past ten years. “I am incredibly proud of Kogan.com’s track record and I believe this sets us apart from our peers.

“It also speaks volumes about our culture, which is underscored by high levels of personal responsibility, and demonstrates the strength and sustainability of our business.”

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