Perth company ThinkSmart Ltd has lodged a prospectus for its long-awaited initial public offering, which will raise $85.6 million and allow existing shareholders led by founder Ned Montarello to substantially reduce their stake in the business.

Perth company ThinkSmart Ltd has lodged a prospectus for its long-awaited initial public offering, which will raise $85.6 million and allow existing shareholders led by founder Ned Montarello to substantially reduce their stake in the business.