Financial services software firm Bravura has announced an initial public offer price of $1.45 to raise a total of $148 million.
On completion of Bravura's IPO, new shareholders are expected to hold 48 per cent of the company's shares.
The offer comprises an institutional offer fully underwritten by Goldman Sachs and Macquarie Capital; a broker firm offer; an employee offer; and a priority offer to selected investors.
The prospectus was released on Friday 28 October, and the broker firm, priority and employee offers open on Monday, 7 November and close on Friday, 11 November.
The shares are expected to commence trading on the ASX on a normal settlement basis on Friday, 18 November, said the company.
Fort Street Advisers is Bravura's financial adviser and Clayton Utz is acting as the legal adviser to the IPO. Goldman Sachs and Macquarie Capital are acting as joint leaders managers to the IPO.
Two of the big four banks have updated their home loan serviceability assessment policy in response to APRA’s regulatory amendments. ...
The Australian exchange-traded fund industry has overtaken the $50-billion milestone, according to the newly published report by BetaShares....
One chief executive has said that the reputation of bankers was at rock bottom and hoped that it would not get any worse. ...