{"id":41666,"date":"2023-10-20T15:15:37","date_gmt":"2023-10-20T15:15:37","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/australian-startup-looks-to-change-the-way-companies-list-for-ipos-startupsmart\/"},"modified":"2023-10-20T15:15:37","modified_gmt":"2023-10-20T15:15:37","slug":"australian-startup-looks-to-change-the-way-companies-list-for-ipos-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/australian-startup-looks-to-change-the-way-companies-list-for-ipos-startupsmart\/","title":{"rendered":"Australian startup looks to change the way companies list for IPOs – StartupSmart"},"content":{"rendered":"
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Australian startup On-Market BookBuilds could be about to change the way companies around the world raise money and list for initial public offerings.<\/p>\n

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The company\u2019s patented product has been licensed to the ASX, which has used it to create ASX BookBuild \u2013 a service that allows a bookbuild to be conducted on-market using ASX infrastructure.<\/p>\n

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\u201cIt is the first of its kind and is an example of Australian technology leading the world in enhancing efficiency and transparency in financial markets,\u201d a spokesperson for On-Market BookBuilds says.<\/p>\n

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\u201cThe facility enables companies to access all-of-market demand for issues of new shares (IPOs, placements), while continuing to employ the expertise of investment banks and brokers.<\/p>\n

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\u201cIt provides a fair, transparent and efficient process to access demand from all potential investors that will lower the cost of capital for companies.\u201d<\/p>\n<\/p>\n

The ASX launched ASX BookBuild in October of last year and since it\u2019s been used to complete five deals raising close to $100 million.<\/p>\n

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The spokesperson says ASX BookBuild is proof of product for On-Market Bookbuilds, which is talking to other markets about potential expansion.<\/p>\n

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\u201cThat\u2019s all confidential, but it\u2019s been promising,\u2019\u2019 the spokesperson says.<\/p>\n

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It\u2019s important to note the ASX itself is not conducting bookbuilds, rather it\u2019s simply providing a service to enhance existing fundraising methods. Its use is optional.<\/p>\n

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\u201cThe way that it works, which is why it\u2019s different , is currently if a company is doing a raising, they\u2019re limited to the clients of the broker they\u2019ve elected to use,\u2019\u2019 the spokesperson says.<\/p>\n

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\u201cWhat it does is basically give the company raising capital access to every interested investor in the market.\u201d<\/p>\n

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Recently it received the endorsement of noted business commentator Alan Kohler, who suggested the government use it for the privitisation of Medibank.<\/p>\n

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Last month, Stavely Minerals successfully used the facility for an IPO which closed after being fully subscribed to for $6 million and managing director Chris Cairns praised it as an \u201ceffective, democratic, capital-raising process\u201d.<\/p>\n

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CEO and founder of On-market BookBuilds Ben Bucknell praised the ASX for implementing the service.<\/p>\n

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\u201cASX is to be applauded for introducing this innovative new facility that enables an equity raising to be priced and allocated fairly, transparently and efficiently,\u2019\u2019 he says.<\/p>\n","protected":false},"excerpt":{"rendered":"

Australian startup On-Market BookBuilds could be about to change the way companies around the world raise money and list for<\/p>\n","protected":false},"author":2,"featured_media":60764,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/41666"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=41666"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/41666\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/60764"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=41666"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=41666"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=41666"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}