Australian Wealth Advisors Group Limited (AWAG) Extends IPO Closing Date

Staff Writer

AWAG Delay

In a recent development, The Australian Wealth Advisors Group Limited (ACN 653 634 292) (AWAG) has issued a supplementary prospectus, dated 11 December 2023, to provide crucial updates regarding its Initial Public Offering (IPO). This supplementary prospectus has been lodged with ASIC and is designed to be read in conjunction with the original prospectus dated 20 November 2023.

Key Changes and Extension of Closing Date

The primary purpose of this supplementary prospectus is to announce an extension of the Closing Date for the IPO to 22 January 2024. Investors should take note of this important modification as it directly impacts the overall timeline outlined in the original prospectus.

Revised Important Dates

The table of ‘Important Dates’ provided in the original prospectus has been revised to reflect the updated timeline:

  • Lodgement of Prospectus with ASIC: 20 November 2023
  • Opening Date for Applications: 27 November 2023
  • Closing Date for Applications: 22 January 2024
  • Settlement date of Offer: 29 January 2024
  • Issue of New Shares: 31 January 2024
  • Expected dispatch of holding statements: 2 February 2024
  • Expected date of quotation of New Shares on ASX: 5 February 2024

What Does the Extension Mean for Investors?

Extensions in the Closing Date of an IPO often prompt speculation about the level of interest from prospective investors. While this doesn’t necessarily indicate a lack of interest, it’s essential for investors to consider the reasons behind such extensions.

The decision to extend the Closing Date could be influenced by various factors, including market conditions, regulatory processes, or a strategic reassessment by AWAG. Investors are encouraged to stay informed about any further updates and to perform due diligence before making investment decisions.

Director’s Statement and Consent

AWAG’s Directors have stated that they’ve conducted reasonable inquiries and have reasonable grounds to believe that the statements in the prospectus are not misleading. Importantly, each Director has provided their consent for the lodgment of this prospectus with ASIC.

As with any investment, staying informed is crucial. The extension of the Closing Date is a noteworthy update for potential investors in AWAG’s IPO. We recommend that investors review the revised prospectus and consult with financial advisors to make well-informed decisions.

For more information, the prospectus is available on AWAG’s official website: Prospective investors are advised to carefully consider the updated information provided in the supplementary prospectus and the implications of the extended Closing Date.