Plexure lists on the ASX to accelerate global expansion
Mobile engagement solutions provider Plexure has commenced trading on the Australian Securities Exchange.
The announcement:
Plexure Group Limited (ASX:PX1; NZX:PX1), a leading international specialist mobile engagement platform provider, starts trading today on the Australian Securities Exchange (ASX) under a foreign exempt listing.
The completion of Plexure’s recent oversubscribed placement that raisedA$30 million (NZ$32 million) was conditional on Plexure’s successful application for an ASX foreign exempt listing, as announced on the NEX on 11 and 13 November 2020.
Under the placement. approximately 26.7million shares were offered atA$1.13a share(NZ$1.20), giving Plexure a current market capitalisation of A$209million.
Funds raised under the placement will be used to accelerate global expansion, product development, and further enhance Plexure’s technology platform, particularly in the areas of analytics, advanced AI and machine learning.
Plexure has been allocated the ASX ticker code of “PX1”. Plexure’s NZX ticker code will also change today from “PLX’ to “PX1”as announced on the NZX on 23 November 2020.
The successful completion of the placement puts Plexure in a strong position to progress the enhancement of its world-leading platform, which gives brands a constant stream of data driven insights that helps deliver one-to-one offers to consumers at scale by anticipating customer needs to incentivise them to visit physical or online stores and increase their spend once there.
Plexure CEO Craig Herbison said the secondary listing on the ASX is the next major step in Plexure’s strategy, supporting the acceleration of its overseas growth.
“Trading on the ASX under a foreign exempt listing provides us with the opportunity to accelerate the strong international growth trajectory we have achieved in recent years through investment in our people and technology. We welcome our new Australian and New Zealand institutional, sophisticated and professional investors. The Australian listing provides us with a new and deep source of capital for the future and from today Plexure shareholders can trade their shares on either the NZX or the ASX provided they are registered on the share register for the particular jurisdiction.
“We provide customised solutions, so our expertise in personalised mobile engagement is at the heart of our approach and is a key differentiator. Our recent inclusion in the world renowned 2020 Gartner Magic Quadrant for Mobile Marketing Platforms – the only Australasian company to do so – puts us in an elite group of providers. We must continue to we remain at the forefront of data-driven insightsusing Ai and machine learning,
so that we can leverage that advantage.“Plexure has established itself as a leading international specialist mobile engagement platform and is a key marketing partner to well-known consumer brands that operate in high-frequency physical environments such as grocery and quick service restaurants. The Plexure platform delivers seamless personalised offers at scale to more than 210 million customers in 60 countries and in 40 languages via mobile devices to enable brands to drive specific outcomes such as increase visit frequency and spend.”
Source: Market Eye media release
