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Solid growth points to Class IPO
Specialist Self Managed Superannuation Funds (SMSF) administration provider, Class Super has claimed 10 per cent market share on the back of a 73 per cent increase in funds using its platform.
The 10 per cent market share claim was announced by Class Super chairman, Barry Lambert, this week and appears to put the company on track for moving ahead with the initial public offering (IPO) which was flagged more than a year ago.
Lambert has runs on the board in terms of listing financial services entities having presided over the successful listing of Count Financial in 2000 (subsequently acquired by the Commonwealth Bank in 2011), and accounting aggregator Countplus in 2010.
On the question of when Class Super might be taken to a public listing, Lambert said it was too early to comment on the timing or the size of the possible raising.
He said that while a lot could change in the next 18 months, it was the current intention of the Class Directors that clients such as accountants, financial planners and administrators might receive a priority offer of shares late next year.
Lambert said further details of the Class planned IPO would be presented at the company's annual general meeting in late November.
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