Exclusive: Shallard, Sala Tenna to float their own investment co

Two of Western Australia's most successful stock brokers - Brad Shallard and Romano Sala Tenna - have taken their partnership a step further, launching their own listed investment company.
The Bell Potter Securities-based pair is seeking more than $20 million for the company which they plan to run as an all-opportunities fund, taking advantage of the institutional clout of such a vehicle - which they have named Katana Capital Ltd.
Mr Sala Tenna and Mr Shallard have been recognised for their broking success, including key roles in major corporate deals like the float of education provider IBT Ltd.
Mr Shallard said the pair opted for a smaller, less time-consuming launch of their investment company so that their investment company could participate in opportunities as they arose early in the New Year.
"We wanted the flexibility to take advantage of that," Mr Shallard said.
"We decided to go for pre-Christmas."
However, the structure of their own IPO leaves open the opportunity for oversubscriptions to take the funds raised up to $50 million, the target they would have set had they opted for a later launch.
Mr Shallard claimed Katana was on track to reach its $18 million minimum.
Katana will have a board of non-executive directors led by Dalton Gooding, while Mr Shallard and Mr Sala Tenna will run the fund through a management company they own.

Also see this week's WA Business News for a more comprehensive story.