ASX

Jul
05

Crowdfunding start-up DomaCom eyes $100m ASX float

DomaCom, the company that shot to prominence with a crowdfunding campaign to acquire the property assets of the iconic Kidman Station empire, is looking to float as a near $100 million company on the Australian Securities Exchange. The ambitious group is hoping to ride the worldwide popularity of crowdfunding which it has used to set up real estate funds and it plans to extend its reach into the corporate bond market and equity release products. Company founder, Arthur Naoumidis, who also set up the now listed portfolio technology provider Praemium, had previously flagged plans to raise $100m through a float last year but the timing of the IPO was pushed […]

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Jun
27

2 Upcoming FinTech IPOs

For decades financial services in numerous flavours were the exclusive province of the banking sector. To get a loan, pay bills, apply for credit cards, or transfer money, consumers and corporations alike turned to banks. It is hard to imagine the rise of the Internet is little more than 20 years old and the rise of smartphones is even more recent – less than 10 years. As a direct result new industries are emerging, among them FinTech, or financial technology. FinTech companies offer alternatives to the banks and as such stand ready to massively disrupt the way financial services are delivered. Direct peer-to-peer lending and crowdfunding are changing the way […]

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Jun
27

Fintechs say high ASX standards are vital

The chief executives of two fintech companies preparing to list on the ASX say the Australian public market remains an attractive funding option for young technology companies despite the botched float of music streaming service Guvera. ChimpChange, a digital bank in the US, is set to list on the ASX this Thursday, after raising $15 million to help lift its profile to millennial customers in middle America, where it provides low-fee deposit accounts. Avoka, a software developer working for global banks, has just completed a $16 million fund raising from private investors and is eyeing a listing on the ASX in around 18 months. The bosses of both companies say […]

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Jun
23

ASX spends $9m to boost stake in blockchain company

The Australian Securities Exchange has forked out an extra $9.5 million to increase its stake in blockchain company Digital Asset to over 8 percent. The stock exchange in January announced it had paid $14.9 million for a 5 percent stake in the US-based fintech firm. The money was also intended to help fund the development of a new post-trade platform for the ASX based on distributed ledger technology. At the time the ASX said it had the potential to buy further equity if it chose. It today said it had taken up that option and splashed an extra US$7.1 million (A$9.5 million) to increase its stake to 8.5 percent. Digital […]

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Say no to IPO lockout for retail investors – OnMarket BookBuilds

Have you seen the recent articles in the media responding to proposed ASX listing rules changes reducing the requirement to just 100 shareholders for large IPOs? Currently, ASX rules require each IPO to have 300-400 shareholders. OnMarket BookBuilds believe that this is a major reason that retail investors get some (but in our view, not enough) access to IPOs. OnMarket BookBuilds think the proposed changes will mean that you receive fewer IPO offers. In contrast, Hong Kong and Singapore rules require that 25-40% of all IPOs are reserved for retail investors. If you support the idea of broader, fairer access to IPOs, then make sure your opinion is heard! Click […]

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zipMoney announces A$20.6 million in oversubscribed institutional placement

Highlights of the zipMoney placement: zipMoney has completed an oversubscribed placement to institutional and sophisticated investors to raise A$20.6 million Placement funds will provide loan book equity capital, fund the proposed acquisition of Pocketbook and provide expansion capital Potential to approximately halve the weighted average cost of capital of zipMoney’s loan book zipMoney has entered into a non-binding indicative term sheet to acquire Pocketbook for an upfront consideration of A$6.0 million Pocketbook is one of the most popular apps in the personal finance sector, with over 200,000 users

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May
31

Fintech ChimpChange has $15m IPO

It’s the latest fintech outfit looking to list on the local bourse, but ChimpChange’s founder and chief Ash Shilkin reckons he has the right mix of executive talent and runs on the board to ensure a smooth landing on the stock exchange. The company, founded in 2012, lets users transfer money instantly between accounts using mobile phone numbers and the MasterCard network. It boasts former Westpac chief operating officer Peter Clare as chairman and is focused on the US market where local banks charge high fees for transferring money electronically. With a $15 million IPO in the offing, ChimpChange’s immediate focus is on spreading the message as far and wide […]

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May
26

Crowd-funder CoAssets seeking ASX listing and raising

Perth and Singapore-based fintech player CoAssets has announced plans to list on the ASX in July alongside a capital raise of between $5 million and $10m. CoAssets, which describes itself as the biggest crowd-funding player in Southeast Asia, listed on the National Stock Exchange in July last year and is now seeking an ASX listing to push further into Australia and Asia. CEO Getty Goh said his company focused on the “sweet spot” of funding, addressing the $100,000-$5m range, a gap that was too small for banks to look at. “Unlike Kickstarter, the projects that we do are business projects, they’re not products or trinkets,” Mr Goh said. Mr Goh […]

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