The property technology company has had a successful first day on the ASX, having listed and commenced trading on 21 July 2021.
Under the ticker “OPN”, the proptech company’s shares opened trading at $0.30 each, higher than the offer price in the company’s prospectus of 20 cents.
Across the day, the share price traded between $0.28 and $0.34, before closing out the day at a final price of $0.295.
The listing comes after Openn Negotiation raised $9 million through the issue of 45,000,000 shares at $0.20 per share under a fully underwritten prospectus lodged in May, as reported by REB.
According to a statement from the company, Openn Negotiation will now be focused on its strategic plan for the continued development and expansion of the Openn platform.
This will also allow for a scaling up of the platform, and a pilot expansion into the USA.
Openn Negotiation managing director Peter Gibbons has commented that it is “an exciting time for the company”.
“The need for transparency within the real estate process has never been more important than right now, given the strength of the current property market,” Mr Gibbons said.
“Our technology solution keeps all stakeholders informed about the negotiation through their device in real time, allowing them to make confident decisions about buying or selling.”
Brokers to the IPO were Euroz Hartleys and lawyers Blackwall Legal were involved throughout the listing process.
ABOUT THE AUTHOR
Grace is a journalist across Momentum property and investment brands. Grace joined Momentum Media in 2018, bringing with her a Bachelor of Laws and a Bachelor of Communication (Journalism) from the University of Newcastle. She’s passionate about delivering easy to digest information and content relevant to her key audiences and stakeholders.