Boutique fund manager K2 Asset Management has finally completed its initial public offering (IPO), raising over $20.48 million from institutional and private client investors.
The offer was oversubscribed with the group selling down nine per cent of the equity in the business.
Following the listing, 217.8 million shares will be issued with a market capitalisation of $228.6 million
The shares will begin trading on the Australian Securities Exchange (ASX) on November 29.
Once the company has listed, the directors will hold 77.6 per cent of the shares.
K2 originally hoped to list on the ASX in August, however, plans were delayed following a bout of market volatility.
"We feel that it was worth delaying the offer and are particularly happy to have received strong institutional support. We take this as a strong endorsement of our investment approach and team," K2 executive director Campbell Neal said.
The fund manager specialises in absolute return strategies and has $670 million in assets under management.
