CTM launches prospectus for IPO

first_imgSource = e-Travel Blackboard: C.F Corporate Travel Management (CTM) has announced its intention to become a listed company on the Australian Securities Exchange (ASX). CTM has also lodged a prospectus with the Australian Securities and Investment Commission (ASIC) for the initial public offering of its shares to raise $21.7 million. The company revealed that 21.78 million shares are being offered under the prospectus of which 20.98 million shares will be offered to new investors at $1.00 per share, while a maximum of 800 000 shares will be issued to eligible employees under the Employee Priority Offer at 90 cents per share. CTM Chairman Tony Bellas said, “The CTM IPO comes at an opportune time for new investors given the recovery being experienced in the corporate travel spend post GFC. Mr Bellas believes CTM Founder, Major Shareholder and Managing Director Jamie Pherous and the management team are committed to CTM’s ultimate success. “This commitment is demonstrated by the fact that Jamie Pherous is not selling any CTM shares,” he said.  last_img read more