Butn (ASX:BTN) debuts on ASX after closing $20m IPO

Butn (ASX:BTN) debuts on ASX after closing $20m IPO

Butn (BTN) has officially commenced trading on the Australian Securities Exchange (ASX) under the ticker code ‘BTN’.

The finance stock debuted on the ASX on Tuesday, July 6, at 10:30 am AEST after successfully closing its initial public offering (IPO).

Butn raised $20 million through the IPO at an offer price of 50 cents per share which gives it a market capitalisation of about $80 million.

The IPO was oversubscribed and received strong support from institutions, retail investors and high-net-worth individuals. Business software company and one of Butn’s platform partners, MYOB Australia, also extended its support and increased its investment in Butn to 19.9 per cent.

The business-to-business (B2B) transactional funding company was founded by joint CEOs and executive directors, Rael Ross and Walter Rapoport.

To read more, please click on the link below…
Source: Butn (ASX:BTN) debuts on ASX after closing $20m IPO – The Market Herald