WAM Microcap raises $154 million
Wilson Asset Management (WAM) Mircocap Limited has closed its initial public offering (IPO) oversubscribed as it raised $154 million.
WAM’s chief executive, Kate Thorley, said: “We have been overwhelmed by our shareholders’ strong support for WAM Microcap.
“We are pleased all shareholders who correctly applied under the WAM priority allocation will receive their full allocation.
“Unfortunately, other investors will be scaled back,” she said.
WAM Microcap was expected to start trading on the Australian Securities Exchange (ASX) on 28 June, under the code WMI.
AUTHOR
Oksana Patron
Recommended for you
Some 42 per cent of CEOs say they are actively reinventing their business to stay relevant in the next decade, with consumer services the most common choice for asset and wealth managers.
Former Ophir Asset Management chief executive, George Chirakis, has joined private equity manager Scarcity Partners, while the asset manager has appointed a replacement from Macquarie.
Australian Unity has appointed a fund manager for its Healthcare Property Trust, joining from Centuria Healthcare, as it restructures the product with a series of senior appointments.
Financial advisers nervous about the liquidity of private markets funds for their retail clients are the target of fund managers launching semi-liquid products which offer greater flexibility and redemptions.
