Shares in Victory Offices have rallied 10 % since the company raised 500 m ( $ 40 m ) in a recent IPO . The company , which has leases on 21 properties – 16 of which are in Melbourne and four in Sydney – estimates annual profit though June will be 72 % higher YoY at AUD9.3 m from increased investment of 500 m ( +53 % ) . Victory ’s market cap is AUD89.6 m . It competes with Regus , Servcorp , WeWork and the Executive Centre , the four biggest players in Australia ’s flexible office space market which is dominated by Regus with 83 locations – more than half the market .
Shares in Victory Offices have rallied 10% since the company raised AUD30m ($20.7m) in a recent IPO. The company, which has leases on 21 properties – 16 of which are in Melbourne and four in Sydney – estimates annual profit though June will be 72% higher YoY at AUD9.3m from increased revenue of AUD45m (+53%). Victory’s market cap is AUD89.6m. It competes with Regus, Servcorp, WeWork and the Executive Centre, the four biggest players in Australia’s flexible office space market which is dominated by Regus with 83 locations – more than half the market.