Supply chain technology company TradeWindow will go public on the local stock exchange next week, after successfully completing a funding round in September.
The company, which produces software that digitizes the process of managing exports within a trading network, will debut under direct listing, meaning there would be no public equity offering.
Its listing price is estimated at 92 cents per share, giving it a market cap of $ 79.1 million.
âWe look forward to introducing TradeWindow to a wider pool of investors through the NZX and providing a channel for them to get involved in the larger story of Australasian exports at a time when trade is so essential to economic recovery. ongoing, âsaid TradeWindow Independent Chairman Alasdair MacLeod. noted.
“TradeWindow is the only player to provide a vertically integrated digital trading platform covering compliance, operations, data management, sharing and storage, collaboration with internal and external stakeholders and end-to-end traceability. supply chain, âthe company said in its listing profile. .
Its customers include Synlait Milk, Open Country Dairy, Silver Fern Farms, T&G Global, Sealord and Whittakers.
The company raised $ 15 million in its most recent capital increase in September.
It was led by existing shareholder ASB Bank, which already provides trade finance to hundreds of local exporters.
Other investors to contribute were Quayside Holdings and Anna Mowbray, co-owner of the billion-dollar ZURU group.
The company’s listing profile shows that it generated $ 357,000 in revenue in its first fiscal year of 2020, while recording losses of $ 3.1 million.
Its top profit reached $ 1.6 million for the fiscal year ended March 2021, but it posted a loss of $ 6.6 million as expenses rose along with increased investment in the company.
It said the main drivers of its financial performance will be increasing its market share, expanding into new overseas markets and providing customers with a diverse product line through its business platform.
This would involve investing in marketing and product development, possible acquisitions and adding staff.
Some of the risks associated with TradeWindow’s investment in the business include security breaches of its cloud platform, software errors, supply chain disruptions, and economic shocks.