Platform technology provider Bravura Solutions is set to float in Australia.
Bravura, the Australia-based business which in the UK provides technology to platforms including Nucleus, Fidelity FundsNetwork and Ascentric, has announced an initial public offer (IPO).
Shares will have an offer price of $1.45 to raise a total of $148 million (£92 million).
Bravura chief executive, Tony Klim said: ‘As an Australian founded company that is now an international technology success story, we are extremely proud of what Bravura has achieved.
With a large addressable market and growing IT spend internationally, we are now focussed on converting the multiple opportunities we see as the industry continues to shift to a single platform solution that is cost efficient and flexible.’
In February former Skandia chief executive Peter Mann joined the board of Bravura as a non-executive director. At the time he said Bravura would look to secure more deals with platforms and other providers in the UK.
In July New Model Adviser® revealed that Prudential was developing a Sipp service developed in partnership with platform technology firm Bravura.