Aerometrex is expected to have a market capitalisation of approximately AUD$95 million when listed on the Australian Securities Exchange in early December. But demand for its 25 million IPO shares valued at $1.00 each has seen the initial offer close many times oversubscribed. Aerometrex Managing Director Mark Deuter said the explosive market interest stems from… Read more »
Buy-now-pay-later service Zip Co. (ASX: Z1P) is looking to raise $60 million from a share issue to fund its UK expansion and move into small business lending. The fintech announced the capital raise to the market this morning. $50 million will come from a non-underwritten placement to professional and sophisticated investors, with $10 million… Read more »
SME lender Prospa’s week from hell for its investors continues after the fintech announced on Monday that it would undershoot its prospectus forecasts for 2019. Here’s the chart, courtesy of CommSec, that tells the story. Prospa (ASX: PGL) shares are down another 6.38% in lunchtime trade on Thursday to $2.20. The Sydney fintech’s shares plunged… Read more »
Shares in Sydney fintech Prospa have plunged nearly 28% in early trade on Monday, to a record low of $2.79 after the company released a trading update that downgraded revenue expectations for the remainder of 2019, less than six months after its IPO. The market reacted savagely to news, wiping more than $1 off the… Read more »
Redbubble CEO Barry Newstead. Photo: supplied ASX-listed online marketplace Redbubble, which sells t-shirts, mugs and art by independent artists, has seen its revenue jump 37% to AU$70 million in the first quarter of FY2020, posting a massive turnaround in its profitability on 12 months ago. Shares in the business (ASX: RBL) have doubled in value… Read more »
Investors who backed medical technology company, Osteopore Ltd (ASX: OSX), which listed today, watched the company’s value go through the roof as the shares jumped by 300% in value and nearly a quarter of the 26.25 million shares issued changed hands. Osteopore 3-D prints “bioresorbable” implants for surgery that dissolve as the bone heals. … Read more »
A Nearmap image of Sydney Nearmap is is an Australian aerial imagery tech and location data company Revenue grew by 36% to to $90.2m last year thanks in part to US market growth The company posted a bigger-than-expected loss of nearly $15m Investors punished the company, pushing shares down 15% in early trade ASX-listed tech… Read more »
Afterpay Touch boss David Hancock received the Finnies award for FinTech Organisation of the Year last week. The buy now pay later fintech startup is seeking $300 million from the sale of 13.8m new shares at a 10% discount. A share placement plan with existing shareholder could raise up to $30m after that. Founders Anthony… Read more »
Prospa co-founders Beau Bertoli and Greg Moshal Fintech startup Prospa (ASX: PGL) has turned into a nice little earner for its key investors, AustralianSuper and Airtree Ventures, with shares in the online small business lender soaring 18% on debut on the ASX at noon today. The jump added $110 million to Prospa’s market cap after… Read more »
Israeli fintech startup Splitit has completed the first ASX listing of the year, following the closing of a $12 million initial public offering (IPO).
A recent study of the habits of Australian women CEOs has revealed that the road to the top is haphazard for many female leaders.
Martin Hosking, CEO of ASX-listed creative marketplace Redbubble, has announced his retirement, with the company’s chief operating officer, Barry Newstead set to take his place. Hosking, who cofounded the company with two friends in 2006 and has served as its CEO since 2010, will step down in August and move into the role of non-executive… Read more »
Small business lending startup Prospa has delayed its ASX listing as it seeks to clarify questions raised by ASIC yesterday around its loan terms.
Joel MacDonald has stepped down as GetSwift CEO and chairman Bane Hunter has taken on the role as “part of [GetSwift’s] ongoing program to continually develop its governance practices as it grows”.
The Australian rideshare space continues to heat up, with Indian player Ola this week launching in Sydney and local offering GoCatch announcing its plans to launch an Initial Public Offering (IPO) in June ahead of a listing on the ASX.
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