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”.
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