GQG expected to raise $1.1b in ASX listing
Fund manager GQG Partners is expected to raise over $1.1 billion as it lists on the Australian Securities Exchange this week.
In an announcement on the ASX, the firm said official quotation of GQG’s CHESS depositary interests (CDIs) representing shares of common stock at a ratio of one CDI to one share of common stock would commence at 12.30 on 26 October on a conditional and deferred settlement basis.
It said it was expected GQG would raise $1,187,137,414 which would issue 593,568,707 CDIs to be settled at an issue price of $2 per CDI.
It would trade under the code GQG.
The float was first announced in mid-October following an announcement by its investor Pacific Current Group.
AUTHOR
Laura Dew
Recommended for you
Lonsec and SQM Research have highlighted manager selection as a crucial risk for financial advisers when it comes to private market investments, particularly due to the clear performance dispersion.
Macquarie Asset Management has indicated its desire to commit the fast-growing wealth business in Australia by divesting part of its public investment business to Japanese investment bank Nomura.
Australia’s “sophisticated” financial services industry is a magnet for offshore fund managers, according to a global firm.
The latest Morningstar asset manager survey believes ETF providers are likely to retain the market share they have gained from active managers.
