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
Lazard Asset Management has announced the launch of a new global equity fund, expanding its qualitative offering for Australian investors.
After introducing its first active ETF to the Australian market earlier this year, BlackRock is now preparing to launch its first actively managed, income-focused ETF by the end of November.
Milford Australia has welcomed two new funds to market, driven by advisers’ need for more liquid, transparent credit solutions that meet their strong appetite for fixed income solutions.
Perennial Partners has entered into a binding agreement to take a 50 per cent stake in Balmoral Investors and appoint it as the manager of Perennial's microcap strategy.
