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
4.2¢ |
Change
0.001(2.44%) |
Mkt cap ! $14.94M |
Open | High | Low | Value | Volume |
4.0¢ | 4.4¢ | 4.0¢ | $8.933K | 210.3K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 12500 | 4.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
4.3¢ | 100970 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 12500 | 0.042 |
2 | 102979 | 0.041 |
2 | 150000 | 0.040 |
2 | 195000 | 0.039 |
2 | 188000 | 0.038 |
Price($) | Vol. | No. |
---|---|---|
0.043 | 100970 | 1 |
0.044 | 329545 | 2 |
0.045 | 6954 | 2 |
0.046 | 3000 | 1 |
0.047 | 35000 | 2 |
Last trade - 14.33pm 01/07/2024 (20 minute delay) ? |
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