Bravura unveils public offer for shares
Wealth management and funds administration software provider, Bravura Solutions, is offering public shares at a price of $1.45 and aiming to raise a total of $148 million, with shareholders expected to hold 48 per cent of total shares.
Existing Bravura shareholders, including company management and Ironbridge funds, would continue with a 52 per cent listing and were set to enter into voluntary escrow agreements, which would restrict the future sale of shares.
The offer comprised:
- An institutional offer, which consisted of an offer to institutional investors in Australia and certain other eligible jurisdictions;
- A broker firm offer, open to Australian and New Zealand resident retail clients of brokers who received a firm allocation of shares and were not located in the United States;
- An employee offer, made to eligible employees nominated by the company; and
- A priority offer, made to selected investors nominated by the company who have received a priority offer invitation.
Bravura chairman, Brian Mitchell, said that potential investors would be joining a market leader with the opportunity to become shareholders of the software company.
"Bravura is providing leading software solutions in the wealth management and funds administration industries to help our clients navigate the changing financial landscape," Mitchell said.
"This ranges from launching new products, improving their efficiency, delivering mobile and self-directed solutions and managing compliance in an evolving and complex regulatory environment."
AUTHOR
Hope William-Smith
Recommended for you
A new funds distribution business has launched in Australia, seeking to bring institutional offerings to the wholesale market and led by co-founder of Jamieson Coote Bonds.
Higher interest rates could be on the cards for 2026 after monthly CPI inflation for October showed an increase of 3.8 per cent.
Global actively managed ETF assets hit a record high in October, according to independent research and consultancy firm ETFGI, breaking the record set the previous month.
Federation Asset Management has appointed an investment director and head of responsible investments to support ESG integration strategy across the firm.
