Industrial Internet of Things (IIoT) applications provider Secure2Go has now lodged a prospectus with the Australian Securities Exchange to raise an Initial Public Offering of between $4-5 million.
The company will raise the funds through share placements, worth $0.30 per share. The funds will be used to boost the company's business development and customer acquisitions in both Australia and globally, the company says.
“We are currently expanding sales domestically and internationally, and the IPO will help us achieve this,” says Secure2Go CEO Wesley Lawrence.
The company provides a hardware-software integrated platform for real-time monitoring of remote-based assets.
“Ultimately we are in the business of providing peace of mind to our customers. We have identified strong markets, both local and global, for each of our products, and we have customers and commercial trials in progress Australia-wide within the resources and transportation industries.”
For the IPO, the company has appointed Melbourne-based firm Lodge Partners as its corporate advisors and lead managers.
It is also working with free-access portal OnMarket and equity crowdfunding firm Equitise to broaden investment opportunities.
Secure2Go is aiming to launch on the ASX in December 2016. The IPO will give the company a market capitalisation of around $20 million.