DLA Piper, A&O on Australia's Biggest IPO of the Year
Pension services company Link Group raised $683 million on the country's stock exchange.
October 28, 2015 at 11:11 PM
2 minute read
DLA Piper and Allen & Overy advised pension services company Link Group on its debut on the Australian Securities Exchange, where the company raised $683 million. It was the country's biggest initial public offering so far in 2015.
Link Group is the largest administrator of Australia's superannuation, or pension, funds, but also offers securities registration and data management services. It's been owned by Pacific Equity Partners (PEP) since 2005.
The company priced its offering at the top end of an expected range of $3.86 to $4.55, selling 148.6 million shares. Shares began limited trading on Tuesday, with the price climbing 11 percent to $5.04 by the end of the day. Full trading is expected to start on Nov. 3.
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