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Bravura floats
Investors clearly perceive solid returns from the superannuation and financial services administration arena, with the book-build carried out ahead of the float ofBravura Solutions closing over-subscribed.
Bravura, which was seeking to raise $40 million from investors, was scheduled to list on the Australian Stock Exchange in late June.
The company said it was raising the money to fund future acquisitions and for product development.
Commenting on the over-subscription of the offer, Bravura managing director and chief executive said it represented an endorsement of the company’s past performance and future growth prospects.
“We welcome our new investors, who are supportive of our expansion plans into the UK and Asia” he said.
Dunstan said Bravura was in the advanced stages of developing its flagship wrap platform, Sonata, in collaboration with two key clients — Perpetual Wealth Management and State Super Financial Services
AUTHOR
Mike Taylor
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