Link Group is said to be mulling over a potential $1 billion capital raising in what would be the biggest initial public offering of the year. Link Group is a global financial technology company, consisting of four divisions.
Firstly, it is one of Australia's largest superannuation administration providers, providing services to more than 70 super funds, whilst also providing share registry and investor relations services (that is updating and managing company share registers) across the globe.
The company also provides data and digital services, together with property services that allow various parties to manage property transactions online. According to The Australian Financial Review the company is said to be worth $2.5 billion and began conducting early-stage investor briefings in June. It will begin its analyst roadshow next week as it strives to join rival Computershare Limited (ASX: CPU) on the ASX.
Meanwhile, it will reportedly also be compared to Myob Group Ltd (ASX: MYO), Iress Ltd (ASX: IRE) and the NASDAQ-listed SS&C Technologies Holdings.
Indeed, it mightn't seem like the ideal time to raise money from investors, given the market's severe turbulence in recent weeks, but while Link Group would likely become the biggest corporate listing on the ASX for 2015 (and the biggest since Medibank Private Ltd (ASX: MPL) floated its shares in November 2014), it isn't the only company raising money from the market right now.
Future Generation Global Invstmnt Co Ltd (ASX: FGG) debuted on the market this morning, raising just over $300 million, while Bitcoin Group Limited (ASX: BCG)* and MainstreamBPO Limited (ASX: MAI)* are also listed on the ASX website as upcoming additions to the market. *(Note that these are currently only proposed ticker codes).
