Spring FG moves to IPO
Just weeks after appointing a new chairman, diversified financial services company Spring FG has confirmed it has started the process for a publicly listing on the Australian Securities Exchange (ASX).
The company announced late on Thursday that it had opened pre-registration for a prospectus and was preparing to lodge with the Australian Securities and Investments Commission (ASIC) in relation to an initial public offering.
In an announcement confirming the move, Spring FG managing director, Keith Cullen said the IPO would be open to both members of the public and clients of Spring Financial Group including database members of the Wealthadviser Financial Education library.
The company's share offer prospectus is expected to be available either later this month or in early December.
Spring FG last month announced that former Macquarie Private Bank head, Guy Hedley had been appointed as chairman and flagged an acquisition strategy, particularly focused on advice and accounting practices.
It also announced it had appointed KTM Capital to advise on its growth and acquisition plans.
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