Profits ahead for Macquarie (ASX:MQG) as Nuix prepares for $1.8 billion IPO

November 16, 2020 02:35 PM AEDT
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The Australian technology company Nuix will be submitting its prospectus for an IPO on 18 November 2020, for an initial public offering valuing it at $1.8 billion.

Macquarie Bank Limited (ASX:MQG) acquired a stake in Nuix in 2011 and is the largest shareholder.

Nuix’s initial public offering shall feature a primary issue of new shares of $100 million and a sell down of $875.3 million.

Nuix’s data analytics engine manages cyber security, risk and compliance threats, investigate fraud and its software is capable of processing more than 1000 files by trawling through emails and attachments.

The company is expected to get listed on the ASX on 4 December 2020.

Meanwhile, the MQG stock quoted at $140.43 at 02:31 PM AEDT.

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