Everything you need to know about the Bartercard Initial Public Offering
BPS Technology opened up an Initial Public Offering on August 4; an offer that will last until the 28th of the same month. This exciting venture sees Australian and New Zealand residents able to purchase BPS Technology shares at a rate of $1 per share, at a minimum of $2000 an offer.
Patersons Security Limited has been brought on as the Lead Manager of the IPO, and will oversee the sale of the 28 million shares. There are numerous benefits that this will have for the company as a whole, in particular for Bartercard.
With cardholder numbers expected to reach more than 160,000 in the coming 5 years, the IPO will act as foothold in bringing Bartercard into the listed environment. Other BPS Technology ventures will see advantages too, including funds for the new TESS (a cloud-based software platform), and the continued growth of Bucqui.
The IPO will be open between August 4 and 28, with shares being listed on the ASX from September 4.
For more detailed information, read through the Prospectus here.