(10 September 2004 – Australia) Investment bank Babcock & Brown has lodged a prospectus with the Australian Securities and Investments Commission for an initial public offering (IPO) intended to raise A$550 million.Babcock chief executive Jim Babcock said the reaction to the IPO from institutional investor and foundation investors had been very positive.
“Commitments have been received from a range of our long term co-investors to subscribe under the Foundation Offer for in excess of A$200 million.
“Commitments have also been received for approximately A$120 million under the Broker Firm Offer and initial indications from institutional investors are that the Institutional Offer will also be strongly supported,” Babcock said.
Babcock was established in 1977 as an arranger of US leveraged leases but increasingly invests its own capital to secure and manage assets for third party clients.