WAM Microcap raises $154 million
Wilson Asset Management (WAM) Mircocap Limited has closed its initial public offering (IPO) oversubscribed as it raised $154 million.
WAM’s chief executive, Kate Thorley, said: “We have been overwhelmed by our shareholders’ strong support for WAM Microcap.
“We are pleased all shareholders who correctly applied under the WAM priority allocation will receive their full allocation.
“Unfortunately, other investors will be scaled back,” she said.
WAM Microcap was expected to start trading on the Australian Securities Exchange (ASX) on 28 June, under the code WMI.
AUTHOR
Oksana Patron
Recommended for you
Australian fund managers are actively seeking to launch Cayman versions of their funds to attract offshore flows, with Regal Partners set to launch its latest offering this month.
As private markets gain traction in Australia but only a limited pool of talent is available, three recruiters explore whether fund managers should consider looking overseas to find top talent.
With an explosion of private credit managers appearing in the market, two alternatives experts believe a consolidation is needed to maintain the quality of the sector.
Bentham Asset Management has become the latest fund manager to expand its distribution team as it reports increased interest in its credit strategies.
