StepChange Holdings, led by Perth dealmaker Geoff Lewis with former West Coast Eagles coach Adam Simpson as a director, has had a steady start to its first day on the ASX.
StepChange Holdings, led by Perth dealmaker Geoff Lewis with former West Coast Eagles coach Adam Simpson as a director, has had a steady start to its first day on the ASX.
The Perth-based IT consulting service started and ended its first day of listing trading at 20 cents per share.
StepChange (STH) raised $14.7 million through its initial public offering, which the company said attracted strong interest from institutional and retail investors, at 20 cents a share.
In its first announcement to the market, StepChange said its successful listing on the ASX represented a significant milestone and provided a sound platform for both organic and inorganic growth.
Mr Lewis and managing director Shane Bransby said the achievement marked the beginning of a new chapter that would allow the company to implement its growth strategies as a listed entity.
“We see attractive opportunities – both organic and inorganic – with strong sales momentum evident across existing and new clients,” they said.
“Further, the IPO process has already enhanced our profile and resulted in greater awareness amongst potential customers and other industry participants.
“We expect to benefit from and capitalise on the ongoing industry tailwinds as demand for SAP products and services continues to grow, driven by digital transformation, cloud migration and business process automation.
“On behalf of the board, we would like to acknowledge Jason Nesa and Kim Carroll whose foresight and vision has been instrumental in building the business into what it is today – one with a portfolio of long-term, top-tier clients and a talented team of over 150 personnel.”
Business News reported on StepChange’s ASX aspirations earlier this year.
Mr Simpson joined the Stepchange board in October, four months after StepChange was established.
It is understood the IPO raising, aimed to hit $17 million, would go towards the company's wholly owned subsidiary StepChange Consultants which provides consulting services on IT and software solutions.
