Private equity, venture capital-backed OzForex eyes A$500m IPO


stocks2_lrgMacquarie, Carlyle and Accel Partners-backed foreign exchange website OzForex is reportedly hoping to raise up to A$500m ($462m) in an IPO as early as this year.

The company is currently meeting investors to gauge interest in a public listing according to Bloomberg, which cited three people with knowledge of the matter.

Carlyle and Accel teamed up to buy a minority stake in OzForex in November 2010, marking an unusual alliance between a private equity giant and a venture capital firm.

Although rare to see a joint venture between buyout and venture firms, Accel had form following its link-up with KKR to form the Accel-KKR investment vehicle.

Accel, Carlyle and Macquarie are also considering selling OzForex to a single buyer rather than floating the asset, Bloomberg added.

It said a A$500m IPO would be the largest in Australia since Aurizon raised A$4.1bn in October 2010.

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