Class Super closes successful IPO
Cloud-based self-managed superannuation funds administration firm, Class Super, will begin trading on the Australian Securities Exchange (ASX) next week.
The company announced that Class Limited had successfully closed its initial public offering (IPO) on Friday, with a total of approximately $25 million allocated to new investors under the CTC (Customers) and general offers.
Commenting on the close of the offer, Class chairman, Barry Lambert said that after 10 years spent building a strong and profitable company, it was gratifying to announce a successful IPO.
"On behalf of our 50 plus staff, many of whom have been on the Class journey for 10 years, and our Directors, I'm pleased to welcome many of our existing customers who have taken up the opportunity to become shareholders in the business, along with a number of retail and institutional investors," he said.
Class is expected to commence trading on ASX on 16 December 2015.
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