Bang a gong, get it on, Serko…

Serko has this morning commenced trading on the NZX Main Board, under the ticker code ‘SKO’.

The growing Parnell-based firm sought to raise $22 million at $1.10 per share from its initial public offer (IPO) and has been overwhelmed by the strong investor support, which saw the public pool component of the retail offer over-subscribed by 3.5x (350%) and close nine days early.

After scaling and completion of the offer, Serko has around 900 shareholders including institutions from both Australia and New Zealand, clients of some New Zealand NZX Firms and members of the public in New Zealand and Australia.

A Kiwi-based cloud technology company that provides an integrated corporate travel booking and expense management solution to approximately 6,000 corporations and government agencies across the Asia Pacific region, Serko started its life on the NZX Main Board at 11am this morning.

“We are very pleased to reach this exciting milestone,” says Darrin Grafton, CEO, Serko. ”We greatly appreciate the support and confidence of our new investors.

“We are now moving forward with our plans to expand our existing business into new markets and develop new products that will help corporations run more cost effective travel programmes for their employees.”

Serko was advised by investment bank Cameron Partners, who was the lead manager of the IPO, which will provide the funding to enable the company to accelerate its market and product expansion into the Asia Pacific target markets.

“The response to Serko’s capital raising has been very pleasing,” adds Simon Botherway, Chairman, Serko. “We now have a strong and diverse share register.”

Follow Us
on Google+

Hilton Auckland

As more and more conferences and events arrive in New Zealand, the opportunity to gain knowledge and build networks becomes better every day. Conferences can be hard work, and there’s nothing like retiring to a nice hotel room at the end of the day to relax and rest. But how do you turn a night in a hotel room into a lesson in building brand loyalty?   Read More →

Android App Review: Vimeo

NetGuide I review a lot of apps that, for one reason or another, aren’t that good. But it’s rare to find one that’s actually irredeemably broken. Video sharing website Vimeo’s app, however, is closer than it should be for an app with such obvious potential.   Read More →

Review: Samsung Gear S

NetGuide It takes something pretty special to stand out from the crowd in the smart wearable space. With new smartwatches and bands launching on a weekly basis, there’s lots of noise and plenty of confusion.   Read More →