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ISCOVER
The shareholders of RAMS Home Loans have lodged a prospectus with the Australian Securities and Investment Commission (ASIC) for a $695.3 million initial public offering (IPO). The offer comprises of 278.1 million shares at a fixed price of $2.50 per share.
RAMS founder and major shareholder John Kinghorn will remain the largest shareholder of the company with an approximate stake of 20 per cent.
The float comes after months of speculation about the pending sale of the company. The decision, according to Kinghorn, to proceed with an IPO will allow existing shareholders to retain a material stake in the business, allowing them to build on RAMS’ strong growth potential.
The offer of shares will include a Broker Firm Offer, a Priority Offer and an Institutional Offer, but no general public offer.
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