Octopus Deploy’s chief executive, Paul Stovell, said a lack of expertise in local investment circles, and the poor performance of earlier listings – such as software group Nuix – would make it difficult for the ASX to attract local tech stars.Octopus Deploy, which helps developers manage software releases, is backed by venture fund Insight Partners, which has invested more than $200 million in the company since 2021.Octopus Deploy chief executive Paul Stovell is sceptical about listing on the ASX. “Macquarie [which sponsored Nuix’s listing on the ASX] pooped in the swimming pool and ruined it for everyone. They and Morgan Stanley made a bunch of money dumping that questionable business on the market,” Mr Stovell said. “I’d never work with them because of that, so I’m not sure who would even be left to underwrite our IPO. ”Companies with annual revenues of less than $100 million were better off with a sale to private equity, while larger companies were better suited to exchanges in the US, Mr Stovell added.
NXL Price at posting:
$1.88 Sentiment: None Disclosure: Held
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