Two underwriting heavyweights will lead the new business, which consists of three agencies in which the group has major equity stakes.
Equity and shareholding broker members are thrilled at the cluster group’s first two days of successful trading on the open market, with some predicting the share price will hit $2.
The cluster group’s CEO is said to be “blown away” by its performance on ASX, admitting that the IPO was oversubscribed.
The cluster group has moved one step closer to staging the biggest IPO Australia has seen in recent years with the completion of its book build.
The cluster group has lodged a replacement IPO prospectus, outlining the final number of consideration shares to be issued and the cash it hopes to raise from investors.
The “natural acquirer” has laid out how much it hopes to make from its massive IPO, what it will do with the cash and its plans after listing.
A major broking network has revealed plans to commence trading on ASX in August, issuing up to 469 million shares.
The cluster group has received "overwhelming support" for a series of changes which will enable it to float.
The latest agreement means the network has created its very first broker link outside Australia.