Mobile phone services provider amaysim Australia Ltd, which sells access to Singapore Telecommunications’s Optus network without locking customers into contracts, plans to raise A$207 million ($159 million) through an initial public offering (IPO), the company said on Tuesday.

The listing may mark a turnaround in the Australian IPO market, which has hit a speedbump in 2015 amid a persistently volatile equity market. In the past three weeks, Australia and New Zealand have seen some five listings worth more than A$2.4 billion pulled, Reuters calculations showed.

In a prospectus filed on Tuesday, amaysim said it hoped to sell 115 million shares for A$1.80, totalling A$207 million, for a 65.3 percent stake in the company, while founders, existing investors and employee shareholders would hold the rest.

Sovereign fund The Libyan Investment Authority is selling its 11.3 percent stake in the IPO, the prospectus showed, without specifying when or how much that fund had invested in amaysim initially…


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