Deals
Rajiv Jain’s GQG Partners Seeks $955 Million From Australian IPO
- Fund manager to sell 593.5 million shares at A$2-A$2.2 each
- New investors to own about 20% of GQG Partners post share sale
Rajiv Jain
Photographer: Christopher Goodney/BloombergThis article is for subscribers only.
GQG Partners Inc., the investment boutique started by fund manager Rajiv Jain, plans to raise as much as A$1.3 billion ($956 million) from an initial public offering in Australia, joining some of the largest new local listings this quarter.
The Fort Lauderdale, Florida-based money manager, which had about $89 billion in assets under management at the end of August, plans to issue 593.5 million shares at A$2 to $2.2 each, according to a document sent to potential investors and seen by Bloomberg News on Friday. The company is looking at an enterprise value of as much as A$6.5 billion.