Mason Stevens’ IPO team hit the pavement

afr.com:

Float hopeful Masons Stevens is pushing ahead with its plans to list before the end of the year.

Street Talk understands the wealth platform’s IPO team has embarked on a major charm offensive, holding one-on-one meetings and product demonstrations with key fund managers in Sydney and Melbourne this week.

It comes after Mason Stevens launched an IPO roadshow in July, handing out presentations and talking up its nine consecutive years of profitability ahead of a proposed initial public offering.

Jacqueline Fernley CIO and Tim Yule CEO of Mason Stevens. The wealth management platform is pursuing an IPO. Louie Douvis

The staff-owned and profitable firmcalled in Barrenjoey’s investment bankers in May to advise on the ideal time to list, after selling a near 40 per cent stake in the company to pre-IPO investors and some of the firm’s clients.

Potential backers have been told wealth manager technology and services provider recorded revenues of $43.1 million in the 12 months to June 30, up 16 per cent from $37.1 million in 2022, and grew operating cash from $24 million to $29 million.

Mason Stevens was founded in 2010. It offers asset management, an investment platform and private banking, providing access to domestic and international equities, fixed-income securities, hybrids, bonds, term deposits and derivatives.

The company, now run by Tim Yule, an ex-UBS head of sales, has grown to about $7 billion in funds under management and advice, according to an investor presentation seen by Street Talk.

If they manage to list, Mason Stevens will become a member of a small club that have managed to pull off a public listing this year. Family-owned chemicals business Redox prised the IPO market open with a $1.3 billion float in July