Wakey, wakey... hands off snakey.PEXA kicks off IPO push, seeks to lock in cornerstone backers
May 17, 2021 – 12.01pmProperty transactions settlements group PEXA has kicked off its latest run at the ASX boards.
The company and its lead managers started meetings with a small group of listed equities investors late last week, in an effort to lock in cornerstone backers for its mooted initial public offering.
The cornerstone meetings will also help ascertain what listed equity markets would likely pay for PEXA, and feed into a dual-track auction due to come to a head in June.
The cornerstone process is understood to include institutional investors in Australia and offshore. The meetings were arranged by PEXA’s lead managers and funds were asked to sign non-disclosure agreements before receiving any confidential materials.
Barrenjoey Capital, Macquarie Capital, Morgan Stanley and UBS are overseeing the IPO. Macquarie and UBS are also taking trade bids as part of the dual-track sale.
more to come
