Guvera IPO under the microscope at ASIC, ASX

The $1.3 billion float of online music streaming business Guvera is on ice as the regulator and exchange operator review the offer.

In a statement issued on Wednesday to discourage retail investors from investing in the float, the Australian Shareholders Association took a swipe at the exchange operator and regulators for not having a higher hurdle for unprofitable companies with risky business models to clear before launching an initial public offering (IPO).