IKE
25/07/2014 08:45
GENERAL
REL: 0845 HRS ikeGPS Group Limited (NS)
GENERAL: IKE: ikegps completes successful IPO - lists on NZX Main Board
23 July 2014
ikegps completes successful IPO - lists on NZX Main Board
ikegps (ike, the Company) shares will begin trading on the NZX Main Board
today using the code IKE following the Company's successful Initial Public
Offering (IPO) that raised $25 million through the sale of new shares.
Chairman Rick Christie says the IPO attracted as shareholders institutions
and retail investors who appreciate the potential of the Company's solutions
to change the way physical assets are measured and modelled.
"Investors clearly understand the attributes of ike's solutions as well as
the strength created by its partnerships with GE, one of the world's largest
corporations, and with In-Q-Tel, the technology supplier to the US
intelligence and special forces community. Significantly these commercial
partners are also shareholders."
The new capital raised in the IPO will be used to further build ike's sales
and marketing capability and to extend the company's solutions for the
electric utility, architecture, engineering and construction markets.
ike Chief Executive Officer Glenn Milnes says the Company is forecasting a
tripling of revenues for the financial year ending 31 March 2015.
Contact:
Glenn Milnes
Chief Executive Officer
Mob: +64 21 0247 9857
Email: [email protected]
About ike
The mission of ike is to revolutionise every measurer's day. More than 250
electric utility and engineering customers are using ike's solutions today
for distribution asset management and the Company has recently agreed a
Trademark License Agreement with General Electric to market its electric
utility solution as GE MapSight. In addition, ike's mobile solution "Spike"
brings the power of this technology to smartphones and tablets. For more
information visit www.ikegps.com
End CA:00253077 For:IKE Type:GENERAL Time:2014-07-25 08:45:17
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