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
8.3¢ |
Change
-0.001(1.19%) |
Mkt cap ! $29.52M |
Open | High | Low | Value | Volume |
8.7¢ | 8.7¢ | 8.2¢ | $53.73K | 646.4K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 21141 | 8.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
8.3¢ | 30000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 21141 | 0.082 |
2 | 100000 | 0.081 |
4 | 163487 | 0.080 |
5 | 80358 | 0.079 |
3 | 175745 | 0.078 |
Price($) | Vol. | No. |
---|---|---|
0.083 | 30000 | 1 |
0.084 | 95928 | 1 |
0.086 | 34196 | 2 |
0.087 | 44381 | 1 |
0.088 | 95928 | 1 |
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