Freedom Insurance IPO

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    In todays AFR.  Anyone know much about this?
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    With large cap fund managers trying to work out the future of Australia's complex national electricity market and how the $1.5 billion-plus float of Alinta Group will fare,small cap investors also have a bit to chew on.
    First out of the block after reporting season is direct insurance business, Freedom Insurance.
    Freedom, which secured $8.4million in pre-IPO funding in January to help fund its purchase of dealer group Spectrum Wealth Advisers, is set to launch an $80 million initial public offering this half.
    The company recorded a recorded an 87 per cent increase in 2016 financial year earnings to $7.4million, with sales revenue 58 per cent higher at $30.2 million. It's also built up a No.2 market share position in funeral insurance, just behind TAL, and brought on 215 new advisers to write business.

    Freedom will launch a formal marketing roadshow in early October, sources said.

    Joint lead managers Baillieu Holst and Bell Potter Securities are expected to spruik Freedom's plans post listing to develop a mortgage insurance product in the same sector where chief executive Keith Cohen and his management team have had significant experience and success.
    Cohen helped to found Australian Life Insurance, which at the time was the biggest distributor of mortgage protection insurance in Australia.
 
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