Public offer for Countplus opens today
The public offer for Count Financial subsidiary Countplus opens today, following a 100 per cent take-up by Countplus principals of the shares made available to them.
Count Financial announced to the Australian Securities Exchange on Friday that the public offer to raise a minimum of $20 million underwritten by Count Financial Limited would open today and close on Monday 13 December (if not over-subscribed earlier).
The announcement said the principals’ offer closed on Friday, with the principals of firms not yet wholly owned by Countplus being eligible to take up to 20 per cent of their consideration in cash.
It said that the principals elected to take 94 per cent in shares and 6 per cent in cash, and would collectively form the largest shareholder group of the Countplus listing.
AUTHOR
Mike Taylor
Recommended for you
Adviser losses this week are quadruple the same period a year ago, with the industry falling into negative territory for the last 12 months.
Colonial First State has announced the latest manager to join its Edge managed accounts menu, focusing on providing investors with a strategic income.
Rising advice fees has prompted Radar Results to increase its price guide to a minimum of $3,000 per client to reflect the changing shape of the adviser landscape.
Investment consultancy Ascalon Capital has appointed a new partner, who joins from 20 years at Zenith Investment Partners, as well as a new chief executive amid a “bold new chapter” for the firm.
