You might be right? I just checked though the announcements to confirm and this is included in the listing announcement.
Capital Raise Under the IPO, a total of 125 million new shares were issued at $0.20 per share and the Company has raised AUD$25 million. The 9 Spokes IPO did not incorporate any sell-down by pre-existing shareholders. Approximately 47% of the shares on issue following the IPO will be subject to escrow for varying periods of time. The majority of shares held by directors and founders will be subject to escrow for 24 months from the date of listing. Early stage New Zealand investors demonstrated their long-term support and have contributed a considerable amount towards the funding, with leading Australian and Asian institutions also demonstrating their significant support. The proceeds of the IPO are predominantly for ongoing software and technical development. 9 Spokes has a significant product roadmap that ensures ongoing development and systems improvement are in place. The business is focused on launching its platform with its channel partners over the next three months. Foster Stockbroking acted as Lead Manager to the IPO, with First New Zealand Capital as Corporate Adviser. Prior to the IPO, AUD$11.4m had been invested into the 9 Spokes platform through a series of private funding rounds.
Unless this isn't the actual listing price?
Scrapper**
9SP Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held
