Menu
Plexure Group aims to start trading on ASX on 25 November

Plexure Group aims to start trading on ASX on 25 November

A successful NZ$32 million placement was a prelude to a secondary listing on the Australian bourse

Phil Norman (Plexure)

Phil Norman (Plexure)

Credit: Supplied

New Zealand-listed mobile engagement software developer Plexure Group aims to start trading on the Australian Securities Exchange (ASX) on 25 November under ticker PX1.

Plexure announced on 13 November that it had successfully closed the bookbuild for an approximately NZ$32 million underwritten placement, conditional on the success of Plexure’s application for an ASX foreign exempt listing. 

If Plexure’s application was successful, completion of the placement was expected to occur on or around 24 November 2020 and trading on the ASX to start on the 25th.

The placement, which was fully subscribed at the offer price of NZ$1.20 a share, represented a discount of 23 per cent to the last close of NZ$1.55 and 20 per cent discount to the volume weighted average price over the preceding ten business days of NZ$1.50.

The new capital will provide the funding the company needs to expand international operations, accelerate product development, and further enhance its technology platform," said Plexure chair Phil Norman.

Norman said Plexure viewed the support received as a clear endorsement of the company's growth strategy.

Plexure was also undertaking a NZ$5 million share purchase plan to enable NZ shareholders to participate. That opened today and closes on 24 November at 5 pm NZ time, but those dates are subject to change.

Key customer and shareholder McDonald’s was to participate in the placement to maintain its current 9.9 per cent shareholding, Plexure told shareholders earlier this week.


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags ASXmobile marketingNZXmobile engagementPlexure

Events

Why experience is the new battleground for partners

Join us for an exclusive webinar, in association with Hewlett Packard Enterprise and Technology Services Industry Association (TSIA) and learn about the latest industry insights and how technology services continue to evolve to deliver differentiated value, and how partners can be successful in 2021 and beyond.

Featured

Slideshows

The Kiwi channel gathers for the 2020 Reseller News Women in ICT Awards

The Kiwi channel gathers for the 2020 Reseller News Women in ICT Awards

Hundreds of leaders from the New Zealand IT industry gathered at the Hilton in Auckland on 17 November to celebrate the finest female talent in the Kiwi channel and recognise the winners of the Reseller News Women in ICT Awards (WIICTA) 2020.

The Kiwi channel gathers for the 2020 Reseller News Women in ICT Awards
Leading female front runners honoured at the 2020 Reseller News Women in ICT Awards

Leading female front runners honoured at the 2020 Reseller News Women in ICT Awards

The leading female front runners of the New Zealand ICT industry joined together for the annual Reseller News Women in ICT Awards event at the Hilton in Auckland, during which hundreds of guests celebrated 13 outstanding individuals who won awards, chosen from more than 50 finalists representing over 30 organisations.

Leading female front runners honoured at the 2020 Reseller News Women in ICT Awards
Channel gathers to celebrate the Reseller News Innovation Awards 2020 winners

Channel gathers to celebrate the Reseller News Innovation Awards 2020 winners

More than 500 channel leaders gathered in Auckland on 21 October at the ​Reseller News Innovation Awards ​2020 to celebrate the achievements of the New Zealand technology industry's top partners, start-ups, vendors, distributors and individuals.

Channel gathers to celebrate the Reseller News Innovation Awards 2020 winners
Show Comments