Offer closed

IPO – MainstreamBPO

Read more about IPOs and placements with CMC Markets Stockbroking

Company Overview

MainstreamBPO is a leading Australian-based managed fund administrator servicing fund managers, superannuation trustees and listed companies in Asia-Pacific. The company administers 270+ funds with $50 billion in assets under administration, supporting more than 110,000 investors.
The company operates three main business units:

  • FundBPO – investment administration, fund accounting, unit registry and middle office services
  • SuperBPO – superannuation administration services
  • ShareBPO – listed share registry services

The company delivers services using recognised industry specific software and proprietary processes.

Source of revenues

MainstreamBPO earns fees from contracts with investment managers, superannuation trustees and listed companies. The key drivers of revenue include:

  • number of investment managers
  • number of funds managed by investment managers
  • number of investors or members
  • number of transactions processed
  • Funds Under Administration

This revenue is predominantly recurring, comprising of monthly service fees.

Purpose of the offer

The purpose of the Offer is to:

  • raise funds to allow MainstreamBPO to pursue future growth opportunities
  • achieve Listing on the ASX to broaden the Company’s Shareholder base and provide a liquid market for its Shares
  • provide an opportunity for the Existing Shareholders to realise a small part of their investment (via the Buy-Back)
  • provide MainstreamBPO with access to capital markets, which it expects will give it added financial flexibility and capacity to pursue its growth and acquisition strategy
  • provide the broader business with the benefits of an increased profile, transparency and credibility from being a listed entity
  • repay shareholder and related party loans
  • pay for the transaction costs associated with a listing on ASX
  • assist MainstreamBPO in attracting and retaining quality staff

Following Completion of the Offer, the Directors believe MainstreamBPO will have sufficient working capital to carry out its stated objectives.

Details of capital raising

ASX Ticker code: MAIXBB
Total offer: $5,000,000 (min), $10,000,000 (max)
Available via ASX Bookbuild: $1,000,000
Issue price: $0.40 (fixed price) for one (1) share
Lead manager: Bligh Capital Securities Pty Ltd
Technical lead manager: D2MX Pty Limited
Stamping fee: 3%
Access: Can be accessed via ASX ticker MAIXBB
Offer open: Thursday 27 August, 2015
Offer close: 12:00pm (AEST) Tuesday 15 September, 2015 (NB. The Company reserves the right to close the offer early)
Expected settlement date: 18 September 2015
Minimum allocation amount: $2,000
Minimum bid: $2,000 ($500 increments thereafter)

How to apply

For existing CMC Markets customers

  1. Carefully read the prospectus (complete web form below) and the ASX BookBuild Client Agreement
  2. Log on to the CMC Markets Stockbroking trading platform and follow the prompts
  3. Ensure you have sufficient funds in your linked cash account for settlement

For new customers

  1. Carefully read the prospectus (complete web form below) and ASX BookBuild Client Agreement
  2. Complete a CMC Markets account application form
  3. Once your account has been approved, log in to the trading platform and apply online
  4. Ensure you have sufficient funds in your linked cash account for settlement

What happens next?

  • On receipt of your application CMC Markets will enter your order in security code MAIXBB into the market via the ASX BookBuild process on your behalf
  • CMC Markets will then forward your application form to Computershare Investor Services
  • If you are successful in securing an allocation it is expected holding statements will be despatched on 18 September, 2015
  • You can cancel or amend the quantity of the order by calling CMC Markets on 1300 136 323

IMPORTANT INFORMATION

The above information has been extracted from multiple sources including the issuing company's website and the prospectus.

CMC Markets does not endorse any material, recommendations, commentary, analysis, trade suggestions or external research discussed or distributed by or on behalf of any external Company or provider and does not accept any responsibility for any claims, liability, loss or damage arising out of or in connection with any external Company or provider. The information contained in this website and offer document does not constitute personal financial advice. We recommend you review all disclosure material and seek your own independent legal, taxation or investment advice as appropriate before making an investment decision. CMC Markets Stockbroking is not licensed to provide you with margin lending related services or advice.

Anyone who wants to acquire shares will need to carefully consider the offer and complete the CMC Markets Bookbuild Agreement before placing a trade.

For more information on ASX Bookbuilds please visit the ASX fact sheet at: www.asx.com.au/documents/professionals/ASX_Bookbuild_Brochure.pdf

CMC Markets Stockbroking is the trading name of CMC Markets Stockbroking Limited (ABN 69 081 002 851 AFSL No. 246381), Participant of the ASX Group. Please refer to our Terms and Conditions for more information about the stockbroking services and our Financial Services Guide for information about fees and charges. These documents are available from cmcmarkets.com.au or by calling 1300 360 071. You should consider your own investment objectives, financial situation and particular needs before acting on any information provided.

To get a copy of the prospectus please complete the below form

Thank you! You can download the prospectus here

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