Bravura Solutions Ltd Confirms London AIM Dual Listing Plan
Bravura proposes London dual-listing with AIM admission expected in July
Bravura Solutions (ASX: BVS) has announced its intention to apply for admission to trading on the AIM market of the London Stock Exchange, with admission expected on or around 28 July 2026.
The ASX will remain the Company’s primary exchange, with ordinary shares continuing to trade under the ticker “BVS”. This is a dual listing rather than a relocation.
Importantly, no new shares are being issued and no capital is being raised in connection with the admission. The process will be conducted via the AIM Designated Market Route, a streamlined pathway available to companies whose securities have traded on a designated market such as the ASX for at least 18 months. Anticipated market capitalisation on admission is c. £500m.
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Why Bravura is heading to London
The strategic rationale centres on the international shape of Bravura’s shareholder base. International ownership outside Australia now represents more than 50% of the Company’s issued ordinary shares, a notable shift for a business that has been ASX-listed since 16 November 2016.
The business is also international by operation, generating approximately 70% of revenue from EMEA and 30% from APAC, supported by staff and senior management located across the globe.
According to the Company, admission is expected to allow additional UK and European institutions, including those with mandates focused on companies of Bravura’s size, to invest. The Board has identified four core benefits:
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Access to an expanded group of potential new institutional investors, increasing access to capital and liquidity
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Raised profile and visibility with existing and prospective clients
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A dual listing reflective of the Company’s international profile
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Recognition of the dual location of the business across EMEA and APAC
Russell Baskerville, Independent Non-Executive Chairman
“Admission to AIM is a logical next step for Bravura. It opens Bravura up to a deeper pool of UK and European institutional investors, while preserving the continuity of our ASX listing for existing shareholders. It reflects our international status, and we are confident that the London listing will benefit all our stakeholders through increased visibility in our core markets.”
What an AIM dual-listing actually means
AIM is a growth market operated in the UK by London Stock Exchange plc. It hosts companies seeking access to public capital alongside established markets such as the ASX.
The AIM Designated Market Route is a streamlined admission process for companies whose securities have already traded on a recognised exchange for at least 18 months. Because Bravura’s shares have traded on the ASX since 2016, the Company does not need to produce a full Admission Document.
Settlement is handled through two parallel systems. On AIM, the Company will apply for Depository Interests representing its ordinary shares to be admitted to the UK CREST system, while trading on the ASX continues to settle under the CHESS system. Both registers operate side by side.
The practical effect is that the same shares can be traded across two markets without dilution. Existing ASX holders are unaffected, while a new pool of UK and European investors is opened up.
The admission details investors should note
The key facts of the proposed admission are summarised below.
| Metric | Detail |
|---|---|
| Expected admission date | 28 July 2026 |
| Ordinary Shares to be admitted | 448,299,975 |
| Anticipated market cap | c. £500m |
| Capital raised on admission | None |
| Securities not in public hands | 28.05% |
Canaccord Genuity Limited has been appointed as Nominated Adviser and Broker. The Company intends to remain compliant with the ASX Corporate Governance Principles and Recommendations (4th Edition with 2019 amendments).
Under AIM Rules 18 and 19, Bravura must publish its first three reports by the following dates:
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Full year results for the year ended 30 June 2026 by 31 December 2026
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Half year results for the period ended 31 December 2026 by 31 March 2027
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Full year results for the year ended 30 June 2027 by 31 December 2027
The Directors have stated they have no reason to believe the working capital available to the Company will be insufficient for at least 12 months from admission. The Company also confirmed there has been no significant change in its financial or trading position since the end of the last financial period for which audited statements have been published.
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The investment case and what comes next
Bravura describes itself as a “mission-critical” financial infrastructure provider, supplying the enterprise software that enables global financial institutions to manage complex regulatory environments, automate registry functions and deliver digital wealth services. The Company currently supports over 50 blue-chip clients who entrust more than A$10 trillion in assets to its systems.
The business operates a focused model structured around two core divisions, Global Wealth and Transfer Agency, with a regional focus across APAC and EMEA.
Bravura’s post-admission strategy centres on organic growth within its existing client base, driven by value-based pricing, cross-sell of additional solutions and services, geographic expansion with existing clients, and selective new client wins in wealth and digital segments. The Company has stated it maintains a disciplined approach to targeted M&A across the wealth, pensions and asset servicing value chains, alongside continued investment in automation, AI and platform innovation.
Bravura’s FY26 guidance upgrade, which lifted Cash EBITDA guidance by 18% to a midpoint of $71m, underpins the financial confidence behind the dual-listing move, with stronger project engagement and operating leverage supporting the organic growth strategy the Company expects AIM access to accelerate.
For investors, AIM access is positioned to support the capital flexibility needed to fund this disciplined growth and M&A strategy, while raising the Company’s profile in its core EMEA market. The near-term catalyst remains admission on or around 28 July 2026.
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