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Firsthand Technology Value Fund holding Pivotal Systems exploring IPO on Australian Security Exchange

Published 03/13/2018, 03:17 PM
Updated 03/13/2018, 03:17 PM
© Reuters.  Firsthand Technology Value Fund holding Pivotal Systems exploring IPO on Australian Security Exchange
  • Firsthand Technology Value Fund's (SVVC -3.8%) largest holding (19.9% of net assects as of Dec. 31, 2017), Pivotal Systems has engaged investment banks Moelis Australia and Shaw and Partners to explore a potential 2018 listing on the Australian Securities Exchange.
  • The Fund’s initial investment in Pivotal was made in 2012 and have invested a total of $19.0M in the company.
  • More details regarding a potential listing will be made public as they become available. No assurances can be given as to whether Pivotal will be able to list its shares, the prices at which a listing and later trading would occur or whether such a listing would mean that the value of the Fund’s holdings in Pivotal would increase.
  • Press Release
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