Evans Dixon, the parent company of non-bank financial advice firm Dixon Advisory, debuted on the ASX yesterday after it raised nearly $170 million in an IPO.
The newly listed company closed its first day of trading with a market capitalisation of $580.2 million – up 8.4 per cent from the listing price of $2.50 per share.
There were 3,604 shareholders at the beginning of Monday, with the top 20 shareholders representing 51.95 per cent of the register.
It was a lacklustre first day of trading, with only $136,231 worth of Evans Dixon shares changing hands.
The company raised $169.5 million pursuant to the offer under its replacement prospectus, dated 5 April.
Commercial law firm Minter Ellison advised Evans Dixon on the listing and IPO.
Along with Dixon Advisory, Evans Dixon operates though its other subsidiaries Evans and Partners and Walsh and Company.
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 15 Nov 2018We’ll lose advisers through FASEA but it’s necessaryBy Adrian Flores
- 15 Nov 2018ASIC flexes its muscles at independent advisersBy James Mitchell
- 15 Nov 2018FPA hands down $50,000 fine on Sam HendersonBy Adrian Flores
- 15 Nov 2018Adviser reviews critical to client retentionBy Adrian Flores
- 14 Nov 2018ASIC bans financial services representativeBy Eliot Hastie
- 14 Nov 2018Fintech should make advice ‘enjoyable’By Adrian Flores
- view all