MEDIA RELEASE: GQG today announced its IPO on the ASX with the company’s founding shareholders listing approximately a 20 per cent stake. With an IPO offer price at $2 AUD/share, which implied a nearly $6bn AUD valuation, the IPO was oversubscribed.
“It is exciting to bring a global investment boutique of GQG’s calibre to the ASX,” said Richard Sleijpen, Managing Director Head of Global Capital Markets, Australasia at UBS.
“This is the largest IPO in Australia this year and it received a strong response from both Australian and global investors. GQG’s exceptional growth profile and culture of investment performance and alignment with both clients and shareholders clearly resonated.”
GQG’s co-founders and team continue to own roughly 75 per cent of the company post-listing and every team member will now have an equity interest in the firm.
“This is an important step towards the vision we laid out when founding the company, of building an investment-led culture, and an institution that can outlive its founders,” said GQG Partners CEO Tim Carver.
“Since our inception five years ago, this experience has outstripped anything we could have imagined. I am so proud of the efforts of our team, the quality of their work and the support of our clients.”
“This business has to be all about performance,” said GQG Partners Chairman and CIO Rajiv Jain. “That’s why we have always focused on having skin in the game. We want to be the most client and shareholder aligned firm that exists in the market.”
Mr. Jain continued, “I think a public currency is a very valuable competitive weapon in the search for talent. We believe it will help us keep our great people and will give us an edge in finding the players or teams who can continue to drive our business forward in the years to come.”
In a continued commitment to client alignment, Carver and Jain have committed to co-invest at least 95% of their after-tax proceeds from the offering in GQG’s investment strategies for at least seven years.