Fund Manager Caledonia Has Applied To Buy Up A Fifth Of The Shares In Freelancer's Public Float

Matt BarrieMatt Barrie / Supplied

Sydney fund manager Caledonia has applied to buy $3 million of Freelancer.com shares, potentially giving it control of 1.4% of the company after its November 15 IPO.

Freelancer.com will issue 35.1 million new shares at an offer price of $0.50 each in the IPO, accounting for 8.1% of the company. Only 30 million of those shares will be available to the public, with the remaining new shares offered to employees.

The IPO will raise just over $15 million for Freelancer.com, and give it a market capitalisation of $218 million.

Founder Matt Barrie will remain the majority shareholder with 46% of shares.

The general offer period opened today and closes on November 7.

Now read: Here Are The Growth Rates Of Internet Companies When They Go Public

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