Stockford closes fully subscribed
Financial planning and accountancy consolidator Stockford Limited closed its public offering yesterday fully subscribed at $20 million.
The company is expected to list in the next few days following Australian Stock Exchange approval with shares to be distributed immediately and trading expected to commence later this month.
The public offering has resulted in Stockford becoming a major player in national advisory services offered to individuals and the small to medium enterprise (SME) sector, with a market capitalisation of about $180 million.
Stockford will bring together 45 accounting, financial planning and business advisory firms, and once listed will have approximately $1.4 billion funds under advice and annual revenues of about $100 million.
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