High net worth planning group Centric Wealth still expects to list in the face of recent market fluctuations.
According to Centric Wealth joint chief executive Michael Pillemer, the group is waiting for the volatility in the markets to settle before proceeding with its initial public offering (IPO).
The recent correction is not enough to derail the group's planned float, Pillemer said.
"Obviously we are keeping an eye on the market, but we are in really good shape and we are looking to IPO in the near term," he said.
"The IPO is part of our long term plan and we are looking to complete it in the first half of 2008."
According to Pillemer, the market correction has had a minimal impact on the group's business so far.
"The fundamentals of the business are very strong; we have very diversified income streams, so from our perspective things are good," he said.
"We have had minimal panic from our client base as the portfolios in our planning business are very diversified."
Centric initially planned to list in late 2007, but delayed the IPO after the dealer group realised it would be unable to provide clients with enough opportunity to consider the offer.
