Bravura announces acquisition capital raising
Publicly-listed financial services platform provider Bravura has sought to raise $23 million to help fund a UK acquisition.
The company announced to the Australian Securities Exchange (ASX) today that it had initiated a fully underwritten rights issue for $23 million to assist in funding the acquisition of Mutual Fund Technologies (MFT).
It said the acquisition was in line with Bravura’s strategy of strengthening its core business, with MFT operating in the transfer agency market that represented a core focus area for the company.
It said the acquisition was expected to increase Bravura’s market share in the European transfer agency market and create the potential for cross-selling opportunities across MFT’s client base.
AUTHOR
Mike Taylor
Recommended for you
BT is to launch a new low-cost “Focus” investment menu for its Panorama platform this October, in partnership with Vanguard, seeking to compete with industry superannuation funds.
Net gains of financial advisers have already doubled since the start of FY25, according to this week’s Padua Wealth Data, with momentum gathering pace far faster than the previous financial year.
National advice firm MiQ Private Wealth has appointed a new chief executive to lead the business through a “transformative era” after penning a partnership deal with AZ NGA earlier this month.
WT Financial’s managing director, Keith Cullen, believes the firm’s Hubco model with Merchant Wealth Partners will be a “repeatable growth model” for the business as it scales its adviser numbers.
