Cloud-based people management and data analytics platform intelliHR today announced the opening of its IPO to raise $4.5 million at an offer price of $0.30 per share.
intelliHR has fast been attracting attention around its world-class technology platform. It offers a new instrument within the artificial intelligence megatrend, providing businesses with cutting-edge tools to enhance performance and better understand their people.
With Morgans Financial as Broker to the Offer, intelliHR is offering 15,000,000 new shares to institutional and retail investors under its IPO prospectus. The IPO follows the strong demand for the company’s recent pre-IPO raising of $4.0 million.
The IPO offer period is expected to close on or before 20 December, with the commencement of ASX trading anticipated for 17 January 2018.
intelliHR founder and Managing Director, Robert Bromage said the IPO was a significant milestone that would help accelerate its growth strategy and allow continued investment in world first HR technology.
“The IPO is a huge milestone for us and I am excited about the opportunities that lie ahead, both within Australia and abroad. I believe intelliHR will be a global leader in people management technology, and this is another exciting step on that journey,” Mr Bromage said.
“The funds we are raising allow ongoing investment in our technology, including innovations such as sentiment analysis tools which we have recently launched into the platform. Through the constant development of our cutting-edge technology, we give organisations a new lens through which they can look much deeper into their business,” he said.
intelliHR Chairman Tony Bellas said the intelliHR platform is a game-changer for employers.
“This is an exciting and cost-effective solution for businesses who currently use antiquated manual systems, or use multiple, poorly integrated systems and older technology, or simply have no systems at all.
“The Board supports the vision that Software-as-a-Service (SaaS)-based systems will become industry standard in HR management in the near future. The SaaS model lowers costs by allowing businesses to share computing resources, is more scalable and agile than traditional software models, and it is the strong preference, and increasingly the expectation, of employees. intelliHR is well positioned to capitalise on that trend,” Mr Bellas said.
For more information or to download the prospectus visit intellihr.com.au/investor-relations/
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Investor contact: Philip Lee, Executive Director – Corporate Finance, Morgans Corporate Limited (07) 3334 4836 / firstname.lastname@example.org