Fund administrator MainstreamBPO has revealed plans to pursue an initial public offering later this year.
The firm is looking at an ASX listing in order to raise funds to capitalise on a range of growth initiatives, including acquisitions, MainstreamBPO said in a statement.
“The continuing sectoral growth, the increasing trend towards outsourcing of back office operations, the company’s track record of sustained growth and its predictable forward revenues from a high quality and expanding customer base are all attractive investment fundamentals underpinning the company’s future,” the statement said.
According to MainstreamBPO, an IPO should be attractive proposition both to institutions and retail investors.
As an administrator for fund managers, superannuation trustees, listed companies, family offices and dealer groups, the firm has a client base of more than 350, with an excess of US$50 (AU$64.25) billion in funds under administration.
Details of the size and timing of the listing are yet to be released.
MainstreamBPO has appointed corporate advisory firm Bligh Capital to advise and lead manage the company’s listing, with M&A practice Sekel Oshry acting as legal adviser.
The company has operations across the Asia-Pacific, with offices in Sydney, Melbourne, Singapore and Hong Kong.
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