10/07/2007

Plan B IPO Closes Oversubscribed

Boutique wealth management company Plan B Group Holdings Limited (“Plan B”) is pleased to announce that its Initial Public Offering (“Offer”) of 30 million shares at $1.00 per share to raise $30 million has closed.

The Offer was significantly oversubscribed with strong interest from institutional and retail investors, as well as staff. 

Plan B Managing Director Denys Pearce said that the Company was delighted with the overwhelming support received across the market and expects to make its official debut on the Australian Stock Exchange on Thursday 12 July at 10:30am (AWST).

“We are extremely pleased with the level of interest in the Offer throughout Australia and we are particularly delighted so many staff members have subscribed for shares,” said Mr Pearce.

On listing, Plan B’s market capitalisation will be $74.9 million based on the Offer price of $1.00. The Offer was fully underwritten by Taylor Collison Limited. Corporate Advisors to the Offer were First City Corporate Advisory Services Pty Limited and TC Corporate Pty Limited.