Accounting software giant MYOB plans to raise more than $800 million in a return to the stock market after a six year absence.
The company plans to use those funds to pay off debt when it returns to the Australian Securities Exchange in May.
"It's largely restructuring of our balance sheet," chief executive Tim Reed told AAP.
"What we're really going to do is pay down that debt and replace it with the equity."
MYOB was founded in 1991 and was listed from 1999 to 2009.
During its absence from the share market it transformed into a company that mainly provides cloud-based accounting and payroll software for small and medium businesses in Australia and New Zealand.
"If you went back four years ago, it was less than 10 per cent of our sales and today it's the majority of our sales that are now our cloud-based solutions," Mr Reed said.
"Really, the last six years have been a huge transformation."
Under the much anticipated re-listing, MYOB will sell up to 277 million shares for between $3 and $4 each, which will deliver proceeds to the company of up to $833.8 million.
The listing on May 4 is expected to see MYOB valued at up to $2.7 billion.
US private equity firm Bain Capital will hold a 57 per cent stake in MYOB after the stock market float.
Management is selling a small parcel of shares to pay off some loans, but will continue to own three per cent of MYOB.
In February, MYOB announced a return to the black with a $1.6 million profit in the year to December 31, a turnaround from a loss of $600,000 in 2013.
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