Powerwrap Limited – Initial Public Offering
Baillieu Limited has been appointed Joint Lead Manager and Underwriter by Powerwrap Limited to conduct an Initial Public Offering at $0.35 per share to raise approximately $17.5m comprising ~$15m primary and ~$2.5m sell down by existing shareholders.
- Powerwrap is an innovative technology service provider operating in the Australian financial investments market (which includes managed funds, direct investments and term deposits, but not direct property investments)
- Powerwrap has developed a specialised platform used by financial advisers, wealth managers, brokers and accountants (Wealth Advice Groups) to manage and administer the investment portfolios of their clients, including in particular High Net Worth (HNW) investor portfolios
- Powerwrap currently services Funds Under Administration (FUA) of over $7.6 billion for the underlying investor clients of over 120 financial advisers, which amounts to over 5,000 individual client platform accounts
- Powerwrap’s headquarters are in Melbourne, with offices in Sydney
The Retail Offer opened on Monday 29th April 2019 and closes on Friday 3rd May 2019.
For further information, please click here for the prospectus.
If you are interested in participating in or discussing this offer, please speak to your advisor.
The offer of securities will be made in, or accompanied by, a copy of the disclosure document; and If you wish to acquire the securities will need to complete the application form that will be in, or will accompany, the disclosure document.