POWERED BY MOMENTUM MEDIA
PEXA lists on ASX
Link Administration’s PEXA Group listed on the Australian Securities Exchange (ASX) today, following the completion of its initial public offering (IPO) that raised an enterprise value of $3.3 billion.
In its announcement to the ASX, PEXA said the IPO raised $1.174 billion at $17.13 per share.
On listing, Link would hold 42.8% of PEXA shares, the Commonwealth Bank of Australia would hold 23.9%, and the remainder balance to be held by new institutional and retail investors, employees, directors, and practitioner partners.
PEXA chair, Mark Joiner, said: “Our listing today on the ASX marks another important milestone for PEXA, as we look to explore opportunities to take our experience and expertise into new markets in Australia and internationally”.
Recommended for you
A member body representing some prominent wealth managers is concerned super funds’ dominance is sidelining small companies in capital markets.
Earlier this month, several Australian superannuation funds fell victim to credential stuffing attacks, which saw a small number of members lose more than $500,000.
Small- to medium-sized funds have become collateral damage in an "imperfect" model for super industry levies, a financial institution has said.
Big business has joined the chorus of opposition against the proposed Division 296 tax.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
93.34 3 y p.a(%)
2
Global X GlobalX FANG+ ETF
37.15 3 y p.a(%)
3
GAM LSA Private Shares AU I
33.96 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
29.68 3 y p.a(%)
5
Plato Global Alpha A
28.73 3 y p.a(%)
