Business
Strategic to take stake in Cashrewards; IPO bookbuild pushed back – The Australian Financial Review
Retail cashback scheme Cashrewards has received a commitment from a strategic investor to take a 19 per cent stake in the company upon listing.
Retail cash-back scheme Cashrewards has received a commitment from a strategic investor to take a 19 per cent stake in the company upon listing.
Cashrewards new chief executive, former Quantium, Myer and Woolworths loyalty, data and e-commerce executive Bernard Wilson.
The company’s brokers Moelis and Ord Minnett sent a book message to funds on Thursday morning saying the incoming investor had committed to invest $25.9 million in the float, in exchange for the stake.
As a result, the IPO offer…
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