Dealer group Shadforth Group has not ruled out an initial public offering (IPO), with the firm in discussions with a number of groups over possible options.
“We’re still actively looking at that. We’re just biding our time and making sure that the dust has settled, but we’re certainly back in a position to launch that or an alternative strategy,” Shadforth chief executive Tony Fenning said.
“We’ve certainly been approached by a number of other people with ideas for how we might do that for a pike or double tweak. So we’re having a think about the way in which we achieve that result.”
Fenning said the firm was looking at either a compliance listing by listing the firm as it currently stood, a back-door listing whereby a firm joins a company that is already listed, or through a possible acquisition of smaller listed firms.
“We’re busy with our advisers thinking about the path that we take. Is listing going to give us what we want right now? It’s settled down really well,” he said.
“It’s an unusual position to be in where you are able to take a bit of time to look around and see what you want to do next.”
As well as planning a possible IPO, Shadforth intends to continue the expansion of its firms.
Fenning said the firm had been in discussions with an undisclosed number of interested parties.
“Generally, things have started to settle down with markets back. We’re looking to generally expand the group,” he said.
“We’re talking to a few people, but no names at this point, that might like to join the group over the next six to 12 months.”
Shadforth Group is made up of 14 financial planning firms across Australia.
