Euroz to raise $80m for listed investment company

Perth-based stockbroking firm Euroz Ltd has expanded its funds management operation by lodging a prospectus for an $80 million capital raising for a new listed investment company, OzGrowth Ltd.

The full text of a company announcement is pasted below

The directors of Euroz Limited are pleased to announce that a prospectus has been lodged for a new Listed Investment Company (LIC) - OzGrowth Limited (OzGrowth).

OzGrowth will seek an immediate listing on the Australian Stock Exchange following the completion of a capital raising for up to $80 million at 20¢ per share.

OzGrowth will have a strong Western Australian focus on high growth investments including micro cap shares and unlisted opportunities.

Euroz Limited will invest $20 million in OzGrowth and will pay all establishment costs of the capital raising.

OzGrowth will be managed by our wholly owned funds management subsidiary, Westoz Funds Management (WFM). Prior to this raising WFM has funds under management of over $200 million and its maiden funds initiative, Westoz Investment Company (WIC) has achieved excellent returns and paid consistent dividends since inception:

The prospectus for OzGrowth will be available from November 22.

Shareholders in Euroz Limited and WIC will soon receive an OzGrowth prospectus and will also receive preference in allocations.