Digital property settlements group PEXA is expected to list on the Australian Securities Exchange in a $3.3 billon float by the end of June after its biggest shareholder, the Link Group, backed an initial public offering over a cash sale.
PEXA’s second biggest shareholder, Morgan Stanley Infrastructure Partners, which owns 40 per cent, confirmed it had executed an underwriting agreement to sell all of its stake as part of a float underwritten by four banks.
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Jenny Wiggins writes on business, specialising in infrastructure, telecommunications and transport. Connect with Jenny on Twitter. Email Jenny at jwiggins@afr.com
Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
