SEARCH

Perpetual and Thorney buy big in OneVue raise

OneVue has completed $6.75 million of its $8 million capital raise, with Perpetual Limited and Thorney Investments buying major portions of the placement.

The aim of the capital raising is to fund OneVue’s business expansion following its acquisition of Computershare’s unit registry business Computershare Fund Services (CFS) and to further strengthen its balance sheet.

“The major investors in the $6.75 million placement are Perpetual Limited and Thorney Investments,” OneVue chief executive Connie Mckeage said.

“The remaining $1.25 million has been set aside for existing shareholders and OneVue staff, including those new OneVue employees that joined the business as part of the Computershare Fund Services transaction in September.

Advertisement
Advertisement

“We are fortunate to have enormous support from both staff and existing shareholders, therefore the balance has already been spoken for.”

OneVue chair Gail Pemberton said the $6.75 million placement, which required shareholder approval, had received unanimous support and would allow the company to focus on “even greater outcomes for existing and prospective clients and partners”.

OneVue said it was also moving towards an ASX listing in the second quarter of 2014 but added that no further capital raising would be required before the initial public offering.

“The key to any business is people,” Ms Mckeage said. “People drive financial outcomes, not the other way around.

“We were profitable last year and don’t intend to let go of that bottom line.”

OneVue announced its acquisition of CFS in August, which it said at the time would “change the landscape of the sector”.

Perpetual and Thorney buy big in OneVue raise
default
ifa logo

Join the debate to improve the issues that surround affordability and accessibility within the advice industry at ifa’s brand-new event, ifa Future Forum.

Join your peers to uncover game-changing industry solutions to pave the way for solving the problem of accessibility and affordability. Utilise your extensive knowledge to formulate ideas and help futureproof advice. Register your free place now! ifafutureforum.com.au

Subscribe to the ifa bulletin

Receive daily online news,analysis, reports and business strategies
By signing up you agree to our Terms of Use and Privacy Policy

Website Notifications

Get notifications in real time and stay up to date with content that matters to you.