8common Applies for IPO on the Australian Stock Exchange.
8common Limited, the Singapore and Sydney based software developer, is currently trying to raise a total of A$3.5 million (US$3.3 million) through an IPO listing with the Australian Stock Exchange (ASX).
The developer of and distributor of software solution Expense8 (travel and expense management) and Realtors8 (real estate content management), 8common, shall issue a 14 million new shares with the offering price of A$0.25.
This offer will closes down on August 8,2014, and 8common expects its shares to be quoted on ASX during August 20,2014, The minimum application under this offer is for 8,000 shares (requiring and investment by an applicant of A$2,000 application monies) and then in multiples of 1,000 shares (A$250).
CEO of 8common, Nic Lim, spoke recently on the opening for the IPO, stating,“There are clear opportunities for growth from both our existing markets and Asia Pacific. For Expense8, there is a clear trend towards discarding excel spreadsheets and manual processes to adopting software to manage and streamline the travel booking and end-to-end processing of employee generated expenses. The Realtors8 solution will provide the tools to support real estate agents who now adopt online real estate classifieds as their primary means of marketing.”
8common had registered its prospectus during the previous week on Thursday, followed by a replacement prospectus during the previous day. Investors can submit their application online or follow the procedure that’s outlined on the prospectus.
With duo headquarters located at Sydney and Singapore, offices based in Vancouver and a dedicated outsourced team within Manila, 8 common delivers its solution on both Software-as-a-Service (SaaS) and customer hosted platforms. Its solutions, as per the company, are utilized in over seven countries, and its customer range from Australian listed companies and government agencies to real estate professionals based all the way in North America.
Although, 8common is expecting the growth to come mainly from the Asia Pacific and Singapore, Malaysia and Hong Long as the initial focus.
8common’s Board of Directors is led by Independent Chairman Grant McCarthy, Non-independent Director Larry Gan and Independent Director Adrian Bunter. They serve alongside Founder and Chief Executive Officer Nic Lim and Chief Financial Officer Zoran Grujic.