Terrapin to list on ASX
Conference organiser Terrapinn, formerly known as AiC Worldwide, has announced its intention to float on the Australian Stock Exchange.
Conference organiser Terrapinn, formerly known as AiC Worldwide, has announced its intention to float on the Australian Stock Exchange.
Terrapinn has appointed Burdett Buckeridge, Young to advise on a capital raising to list later this year.
The move is a major step for the group founded by Tony Steel in 1987 which started out as a magazine and conference business in Australia and has since moved offshore. It is perhaps best known in financial services circles as the organiser of conferences such as the Financial Planning Summit conference.
Steel, who still owns 75 per cent of the group, is positioning Terrapin as a major Internet player and as an agent for “establishing brands for industry sectors”. It is understood the group may be looking to rationalise the number of conferences it organises.
The company - which has its headquarters and management in London as well as offices in Sin-gapore, Hong Kong and Mexico - said that it had decided to raise capital and list here because the costs were cheaper than in London.
Figures on the company’s financial position will be released in a few weeks, as well as the exact amount of the raising.
"We are doing a number of things, including developing Internet portals and we will also use it for paying back our bank debt, as well as acquisitions" Steel says.
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