Wotif makes strong ASX debut
Online accommodation website Wotif.com has made a very strong debut on the Australian Stock Exchange.
Shares in the Brisbane-based company opened at $3.06, up $1.06 on its initial public offer (IPO) price of $2.00, which was set at the top of its target range.
Wotif raised $172 million from the IPO of 85.984 million shares and, based on the final issue price, will have a total market capitalisation of $406.4 million, with Wotif shares trading $1.10, or 55 per cent, higher at $3.10.
Launched in 2000, the online booking service allows hotels, motels, bed and breakfasts and any other form of accommodation to list on its website for free, but Wotif gets 10% of the cost of the accommodation it sells in 35 countries, including Cambodia, Vietnam and Myanmar.
Wotif’s prospectus forecasts a net profit of $15.7 million and revenue of $45.3 million for the year to June 30, 2006.
The company has forecast earnings to rise to $19.1 million on revenues of $55.8 million in 2006/07.
Report by The Mole
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Global tourism exceeds 1.5 billion travelers announces UN-Tourism
Qatar Airways offers reduced timetable to over 60 destinations
WTTC global tourism reached record economic impact of 11 trillion in 2025
Marginal increase for New York City tourism in 2025
Hands In, UATP join forces for airline multi-card payments