OzForex to float

The online money changer is looking to list on the ASX

OzForex is set to float on the ASX in a deal valuing the online bureau de change at $480 million, The Australian Financial Review reports.

According to the newspaper, founders Matt Gilmour and Gary Lord are set to make $84.5 million from the float and are expected to remain shareholders with holdings of four per cent each.

Macquarie Group owns 19.9 per cent of the company and is also set to benefit.

Goldman Sachs and Macquarie Capital are underwriting the initial public offering and major investors have already shown strong interest, the AFR reports.