The initial public offering pipeline may appear to have dried up for now, but one business that continues to be active with embarking on listings is Wilson Asset Management.

The fund manager celebrated the initial public offering of its latest microcap fund at the Australian Securities Exchange Building in Sydney today, as it launched into life as a publicly listed company.

WAM Microcap Limited closed its IPO with investor demand exceeding the $154 million capacity limit.

Shares were sold at $1.10 each and were trading slightly higher after its launch.

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