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Bravura announces Australian IPO

Platform technology provider Bravura Solutions is set to float in Australia.

Bravura announces Australian IPO

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.

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