iSelect float 'not ideal: chair

Waller would conduct IPO differently if he had his time over, AGM hears.

Comparison website iSelect's (ISU) chairman Damien Waller says he would conduct the group's float differently if he had his time over but is still very positive about the company's future.

Addressing shareholders at the group's annual general meeting, Mr Waller said the first day of trade in June was marred with unexpected trading issues and a fall in the wider market.

"Like many shareholders here today, I am as disappointed as you that our arrival was a rocky one," he said.

"I think it is widely acknowledged and accepted that the timing and structure of our IPO was not ideal.

"There is a range of things we would do differently if we had our time again."

Mr Waller said it was also disappointing that iSelect missed its prospectus revenue forecast, "albeit by a small margin". 

"The important thing to bear in mind is that our performance on the stock exchange isn't a result of something fundamentally wrong with our business." 

Mr Waller said the group expects to announce a new chief executive officer in the new year, after former CEO Matt McCann resigned last month. 

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