FarmaForce Limited is looking to raise up to $6 million through its initial public offering priced at $0.30 each that is underwritten to $5 million by iQX Investment Services Pty Ltd.
The company is a contract sales organisation that provides clients in the Australian pharmaceutical industry with sales force solutions.
It will receive revenue from services fees as well as success fees paid on achievement of pre agreed milestones.
FarmaForce has already developed its infrastructure, formed a pan Australian sales force and engaged multi-national clients.
Proceeds from the IPO will be used to undertake the next phase of growth by:
- Accelerate the implementation of the Company’s business model;
- Increase working capital to support strategic and sustainable business growth; and
- Develop and implement proprietary technologies to support innovative sales models that reduce costs by amortising them across multiple partners.
The company expects to trade as FFC.
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FarmaForce Limited is looking to raise up to $6 million through...
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