In the last 10 years $170billion has been raised via selective private placements to wholesale investors

Wilson Asset Management

Wilson Asset Management

In the last 10 years $170billion has been raised via selective private placements to wholesale investors. These placements have been made at an average discount of 7.8% to the prevailing price leaving retail investors at a disadvantage of $13billion through regulatory exclusion. The cost for a company to issue a prospectus is time consuming and expensive to the extent that it is prohibitive. We believe there is a consensus view in the market that, in their current format, prospectuses are of little value to retail investors who generally do not read them. In our view, the risk of investors not having current information is superseded by the continuous disclosure laws and to this end the regime for placements to wholesale investors is inequitable and defies logic. Our submission to the Financial System Enquiry recommends all investors (retail and wholesale) have access to placements without the use of a prospectus. (VIEW LINK)


Wilson Asset Management

Wilson Asset Management has a track record of making a difference for shareholders and the community for more than 20 years. As the investment manager for eight leading LICs – WAM Capital (ASX: WAM), WAM Leaders (ASX: WLE), WAM Global (ASX: WGB),...

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