Company to list on ASX next week
Sydney, 22 June 2006 - Bravura Solutions Limited (ABN 15 11 148 826) (Bravura), one of Australia’s leading software application and professional service providers to the global wealth management industry, will list on Australian Stock Exchange next Wednesday 28 June, having closed its book-build oversubscribed.
Bravura raised A$40 million from investors, with the proceeds to be used largely to fund future acquisitions and product development.
Bravura’s Managing Director and Chief Executive Officer Mr Iain Dunstan said the oversubscription represents an endorsement of the company’s past performance and future growth prospects.
“We welcome our new investors who are supportive of expansion plans in the UK and Asia, particularly the growing UK wrap platform market.
Bravura is in the advanced stages of developing Sonata, its flagship wrap platform, in collaboration with two key clients, Perpetual Wealth Management and State Super Financial Services.
Bravura administers over 10 million accounts on its applications, representing more than A$300 billion in funds under management and provides software and services to over 120 financial institutions.
Bravura has completed four major acquisitions since it was established in 2004 as part of a management/leveraged buy-out that acquired the corporate and superannuation business unit of CSC Australia.
Bravura currently employs more than 240 people staffing 11 offices across Australia, New Zealand, UK, Hong Kong, South Africa and India (through a joint venture alliance).
UBS AG is the Lead Manager of the Offer.