Wilson Asset Management’s (WAM)’s Microcap Limited’s initial public offering (IPO) opened today, launching its $154 million capital raising.
WAM Microcap would offer shareholders risk-adjusted returns derived from a portfolio of undervalued growth companies listed on the Australian Stock Exchange (ASX) with a market capitalisation of less than $300 million.
WAM’s chairman, Geoff Wilson, said: “We have a strong record of identifying micro-cap companies, delivered over almost 20 years”.
“It is extremely important that the investment team continues to identify undervalued micro-cap companies that demonstrate significant growth potential.
“WAM Microcap will provide the investment team with the optimal structure to continue this rigorous and disciplined process.”
