As part of IBOA securing the licence, Novatti finalised a Series A equity round for IBOA Group
Holdings Pty Ltd (IBOA Group)
2
, which heads Novatti’s dedicated banking division and is parent
entity of IBOA. Through this funding round, Novatti will make an additional $5 million
investment, retaining a 91% interest in IBOA Group. Commitments under the Series A round
were first announced to ASX in October 20213 and have since evolved with Novatti taking the
opportunity to increase its interest in lieu of a portion of the third party commitments. The
aggregate $8 million in new funding under this round will enable the International Bank of
Australia to launch and build the banking business.
Mr Cook noted: “Novatti was able to make this further investment in the International Bank of
Australia by leveraging its strong balance sheet. This includes a cash balance at the end of the
September quarter of $14.5m, with a further $12.8m expected as a special dividend from Reckon
Limited on 21 November.4 The strength of our balance sheet has enabled us to increase our
position in this very exciting new opportunity.”
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Last
3.9¢ |
Change
0.001(1.32%) |
Mkt cap ! $13.69M |
Open | High | Low | Value | Volume |
3.9¢ | 3.9¢ | 3.9¢ | $6.841K | 176.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
7 | 287499 | 3.8¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
3.9¢ | 102243 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
6 | 277499 | 0.038 |
4 | 477027 | 0.037 |
6 | 343794 | 0.036 |
5 | 253094 | 0.035 |
2 | 353333 | 0.034 |
Price($) | Vol. | No. |
---|---|---|
0.039 | 102243 | 2 |
0.040 | 212364 | 3 |
0.041 | 160007 | 2 |
0.042 | 100000 | 1 |
0.046 | 9900 | 1 |
Last trade - 15.43pm 18/10/2024 (20 minute delay) ? |
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