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.
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