Aurora Funds Ltd is set to debut on the local bourse on Tuesday, next week, after acquiring three more asset managers and putting together $2 million.

Aurora, a company based in Sydney, was created in early 2010 and absorbed all of the issued capital Fortitude Capital Pty Ltd, Sandringham Capital Pty Ltd, and Aurora Funds Management Ltd through several scrip and cash agreements.

It will get listed on the ASX (Australian Securities Exchange) for the first time with a $19 million market capitalization, after an IPO (initial public offer) gathered $2 million from retail investors a couple of months ago.

The offer price was pegged at $2.00 per share.

Sandringham, based in Melbourne, is a manager of wholesale assets founded about five years ago, while Fortitude, based in Sydney, is a manager of hedge funds.

Steuart Roe, the founder of Sandringham and leading shareholder, will be placed as Aurora's new managing director and chairman.

Aurora Funds will hold funds worth more than $600 million under management, and Mr. Roe said the company's products will focus on market niches in the Australian investors of wholesale, retail, and institutional.

Mr. Roe, as with the other executives and directors of the three merged asset firms, will control majority of Aurora's stocks at 53.2 per cent, with new stakeholders having 22.3 per cent of stock, and other current shareholders controlling 17.9 per cent of Aurora's shares.