Jim Raptis says he is re­listing his Raptis Group Limited out of an obligation to former shareholders and creditors, five years after it collapsed owing nearly $1 billion. Raptis told The Australian the company that Raptis Group would restructure its board and management within its first year as a listed entity before embarking on a capital raising. Raptis said relisting the firm, with an annual general meeting tomorrow expected to rubberstamp the move, was a way of concluding what he had promised five years ago.

“Nothing is outstanding as far as the group is concerned, everything is resolved, and we are now moving forward to begin trading,” he said. “We're not out there rushing, we'll build the confidence of the shareholders and take it a step at a time.”