GQG raise $1.18b in IPO
GQG Partners has floated on the Australian Securities Exchange (ASX), raising $1.18 billion in an oversubscribed offer.
The initial public offering (IPO) was the largest listing of 2021, beating PEXA which raised $1.17 billion when it listed in July. However, the GQG enterprise value was almost double that of PEXA at $6 billion compared to $3.3 billion.
Some 20.1% of the company was now held by public shareholders while the remainder was held by Pacific Current Group and GQG staff with every employee holding an equity interest.
GQG Partners chief executive, Tim Carver, said: “This is an important step towards the vision we laid out when founding the company, of building an investment-led culture, and an institution that can outlive its founders.
“Since our inception five years ago, this experience has outstripped anything we could have imagined. I am so proud of the efforts of our team, the quality of their work and the support of our clients.”
AUTHOR
Laura Dew
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