Straker Translations IPO

Here's one for the artificial intelligence enthusiasts.
A New Zealand-based tech start-up that uses AI powered software to provide online language translation services is pursuing an $80 million listing on the Australian Securities Exchange next month.  
Street Talk understands Straker Translations, which is backed by ASX-listed investment firm Bailador, started a management roadshow last week aimed at drumming up support for the mooted initial public offering.
Straker has developed a system called the RAY technology translation platform, which learns on the job and is used by more than 10,000 small and medium-sized clients in over 20 countries for translation services. It has undertaken a lot of acquisitions and earns more than 90 per cent of revenue offshore.

Stockbroker Bell Potter Securities is in its corner rattling the can. Straker is seeking to raise $21 million in fresh funds for a market value of about $80 million.


The company and its broker would no doubt like fundies to compare it to ASX-success story and Bell Potter alumni Appen, which started listed life at 50¢ a share in 2015 and closed at $14.35 on Monday.
Funds raised in the IPO are pegged for acquisitions and roll-out.

https://www.copyright link/street-t...eyes-80m-float-bells-on-board-20180916-h15gj0