Praemium moves to acquire PowerWrap
Praemium Limited has announced a conditional off-market takeover offer for PowerWrap.
Praemium has announced to the Australian Securities Exchange (ASX) that it has entered into a bid implementation agreement under which it is proposed it will make an off-market conditional takeover offer for all the ordinary full-paid shares in PowerWrap which it does not already hold.
The ASX announcement said the offer was pitched at 26.44 cents per PowerWrap share valuing the company at $55.6 million.
It said the PowerWrap board had unanimously recommended that shareholders accept the Praemium offer.
The ASX announcement said the transaction would see the creation of one of Australia’s largest independent specialist platform providers.
Recommended for you
A strong demand for core fixed income solutions has seen the Betashares Australian Composite Bond ETF surpass $1 billion in funds under management, driven by both advisers and investors.
As the end of the year approaches, two listed advice licensees have seen significant year-on-year improvement in their share price with only one firm reporting a loss since the start of 2025.
Having departed Magellan after more than 18 years, its former head of investment Gerald Stack has been appointed as chief executive of MFF Group.
With scalability becoming increasingly important for advice firms, a specialist consultant says organisational structure and strategic planning can be the biggest hurdles for those chasing growth.
