InPayTech Limited Initial Public Offer opens today
Integrated Payment Technologies Limited (InPayTech) has today formally opened its Initial Public Offer (IPO).
InPayTech is an Australian financial technology company that has created a unique payments process in support of Australia’s banking, wealth management and superannuation sectors.
The Prospectus offers a total of up to 25,000,000 Shares in the Company at a price of 20 cents per Share (the Offer). The Offer seeks to raise a minimum of $3,000,000 and a maximum of $5,000,000.
The company would have cash of $2,300,000 under the minimum subscription and $4,173,000 under the maximum subscription, and be debt free.
InPayTech’s offer period is expected to close on 18 November, 2016.
Brokers to the issue are Kimber Capital, Veritas Securities Limited and Gobarralong Capital.