Barramundi IPO raised to $100m

Fund manager Fisher Funds will seek to raise up to $100 million in an initial public offering for Barramundi.

Barramundi aims to provide investors with access to a diversified portfolio of smaller, growing Australian companies.

Fisher initially planned to raise $50 million from the public, but said demand from sharebrokers had prompted it to raise that level to $65 million, all of which has been allocated.

Allowance has been made for up to $35 million in oversubscriptions.

Fisher Funds also manages investment company Kingfish, which focuses on smaller local companies.

The offer will open on Monday and close on October 20.

- NZPA