Shaw and Partners appointed as Lead Manager to the proposed capital raising by Novatti Group Limited News26 Jun 2020

Shaw and Partners is pleased to be appointed as Lead Manager to the proposed capital raising by Novatti Group Limited (ASX.NOV).

 

The Company is proposing to raise approximately $6.0 million via a Placement of 24 million new ordinary fully paid shares at $0.25 per security. New shares issued under the Placement will rank pari passu with existing securities. The Company reserves the right to accept oversubscriptions.

 

The offer price of $0.25 per share represents a 29.6% discount to last close of $0.355, a 24.3% discount to 5-day VWAP of $0.330 and a 19.7% discount to 10-day VWAP of $0.311.

 

Novatti will utilise the proceeds of the offer to accelerate growth of card issuing and payments processing and for the launch of initial B2C marketplace for cross border customers.

 

Novatti Group Limited is a leading digital banking services and payments company. It provides its customers with utility billing and payment services, assisting economies, corporations and consumers digitalise cash transactions. Novatti’s software solutions include: consumer digital wallets, branchless banking, mobile money, bill payments, remittance services; and voucher management systems. Novatti payment solutions are active in over 50 countries, assisting in over $36 million in monthly remittances globally.

 

The offer is available to Australian Sophisticated and Professional Investors only.

 

For more information please contact your Shaw and Partners Adviser.

 

 

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