PEXA lists on ASX
![Three funds added to ASX mFund platform image](https://moneymanagement-live.s3-ap-southeast-2.amazonaws.com/s3fs-public/field/image/asx%20screen%202-300.jpg)
![Three funds added to ASX mFund platform image](https://moneymanagement-live.s3-ap-southeast-2.amazonaws.com/s3fs-public/field/image/asx%20screen%202-300.jpg)
Link Administration’s PEXA Group listed on the Australian Securities Exchange (ASX) today, following the completion of its initial public offering (IPO) that raised an enterprise value of $3.3 billion.
In its announcement to the ASX, PEXA said the IPO raised $1.174 billion at $17.13 per share.
On listing, Link would hold 42.8% of PEXA shares, the Commonwealth Bank of Australia would hold 23.9%, and the remainder balance to be held by new institutional and retail investors, employees, directors, and practitioner partners.
PEXA chair, Mark Joiner, said: “Our listing today on the ASX marks another important milestone for PEXA, as we look to explore opportunities to take our experience and expertise into new markets in Australia and internationally”.
Recommended for you
As part of its executive leadership refresh, Insignia has appointed Dave Woodall as its chief executive for superannuation.
Insignia has announced it has completed the separation of Rhombus Advisory but flagged it needs to increase its remediation provision by an estimated $135 million relating to legacy advice and product compliance issues.
Australian Ethical has reported $10.4 billion in funds under management as quarterly inflows grow by 54 per cent.
Analysis by Chant West of the annual performance of growth superannuation funds has uncovered which ones see the best performance.