Netwealth Group Limited (ASX code: NWL)

Financial management software provider Netwealth Group launched on the ASX on November 20, 2017.

Netwealth listed with a market capitalisation of approximately $879.2 million and offered approximately 71.3 million shares at the offer price of $3.70 per share.

The IPO comprised a retail offer, consisting of broker firm, platform priority, general priority and employee offers, and an institutional offer.

The company, which was established by finance industry veteran Michael Heine in 1999, has been restructured to make Netwealth Group Limited the holding company for Netwealth Holdings Limited ("NHL"), which together with its subsidiaries operates the Netwealth financial services business.

Netwealth joint managing director Matt Heine said: "Netwealth has a clear objective to capture a greater share of the market in both the superannuation and non-superannuation sectors through its innovation capabilities and ability to quickly respond to the needs of Financial Intermediaries and clients."

He added: "It is forecast to generate an annualised dividend yield of 2.2%."