Cloud-based people management and data analytics platform intelliHR today announced the early closing of its Initial Public Offering (IPO), due to strong investor demand.
intelliHR Founder and Managing Director, Rob Bromage said the company had been overwhelmed with investor interest since it opened the IPO to raise $4.5 million at an offer price of $0.30 per share.
“Going into the IPO process, we knew there was strong interest but we have been significantly oversubscribed, so it’s certainly a sign of a very exciting new chapter we are about to embark on,” Mr Bromage said.
“I believe the success of the IPO has put us in a very strong position as we head into our ASX listing in the new year.”
“Through both the pre-IPO and IPO raisings, intelliHR has received a total of $8.5M in funds and we intend to invest that capital into further development of our world-class technology and also into our expansion strategy,” Mr Bromage said.
intelliHR Chairman Tony Bellas welcomed the new shareholders to the company.
On behalf of the Board we have been thrilled to be able to extend this IPO to our new shareholders and I welcome each of our new investors into this trailblazing HR tech space,” Mr Bellas said.
intelliHR anticipates that its first day of trading on the ASX will be 17 January 2018.
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