Plexure Now Trading On Both The ASX And NZX To Accelerate Global Expansion

Plexure Group Limited (NZX:PX1; ASX:PX1), the Auckland-based international specialist mobile engagement platform provider, today started trading on the Australian Securities Exchange (ASX) under a foreign exempt listing. The completion of Plexure’s recent oversubscribed placement that raised NZ$32 million (A$30 million) was conditional on Plexure’s successful application for an ASX foreign exempt listing.

Under the placement approximately 26.55 million shares were offered at NZ$1.20 a share (A$1.13), giving Plexure a current market capitalisation of NZ$223.5 million.

Funds raised under the placement will be used to accelerate global expansion, product development, and further enhance Plexure’s technology platform, particularly in the areas of analytics, advanced Ai and machine learning.

Plexure has been allocated the ASX ticker code of “PX1”. Plexure’s NZX ticker code will also change today from “PLX’ to “PX1”.

The successful completion of the placement puts Plexure in a strong position to progress the enhancement of its world-leading platform, which gives brands a constant-stream of data-driven insights that helps deliver one-to-one offers to consumers at-scale by anticipating customer needs to incentivise them to visit physical or online stores and increase their spend once there.

Plexure CEO Craig Herbison said the secondary listing on the ASX is the next major step in Plexure’s strategy, supporting the acceleration of its overseas growth.

“Adding an ASX foreign exempt listing is great news for local investors as it allows us to accelerate the strong international growth trajectory we have achieved in recent years through investment in our people and technology. We welcome our new Australian and New Zealand institutional, sophisticated and professional investors. The additional Australian listing provides us with a new and deep source of capital for the future and from today Plexure shareholders can trade their shares on either the NZX or the ASX provided they are registered on the share register for the particular jurisdiction.”

“We provide customised solutions, so our expertise in personalised mobile engagement is at the heart of our approach and is a key differentiator. Our recent inclusion in the world-renowned 2020 Gartner Magic Quadrant for Mobile Marketing Platforms – the only Australasian company to do so – puts us in an elite group of providers. We must continue to increase our product innovation so that we can leverage that advantage.”

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