Closure of Market faxts Limited Share Offer
Market faxts Limited announced that it has closed its $10m IPO heavily oversubscribed and ahead of schedule.
The fully underwritten issue, with HSBC and Deutsche as Co-lead Managers, was closed on Friday 10th December. Subject to satisfactory listing approval, the Company is hoping to commence trading on the ASX on Friday 17th December.
Market faxts, which was established in 1993, develops and operates a range of independent consumer and business orientated “Infochoice” web sites, including bankchoice.com.au, phonechoice.com.au and infarmation.com.au.
Funds raised in the issue will be used for marketing and the development of a series of new “infochoice” web sites across a range of industries and communities. Revenue is generated from both listing fees and, increasingly in the future, i.commerce commissions from transactions generated through the various sites.