AUSTRALIAN ARTIFICIAL INTELLIGENCE SOLUTION LAUNCHES IPO

AUSTRALIAN ARTIFICIAL INTELLIGENCE SOLUTION LAUNCHES IPO

AUSTRALIAN artificially intelligent management platform intelliHR has announced the launch of a $4.5 million IPO.

The technology platform offers a new instrument within the artificial intelligence space, providing businesses with tools to enhance performance and better understand their people.

The Brisbane-based tech group is offering 15 million new shares at $0.30 per share to institutional and retail investors under its IPO prospectus. The IPO follows the strong demand for the company's recent pre-IPO raising of $4 million.

The IPO offer period is expected to close on or before 20 December, with the commencement of ASX trading anticipated for 17 January 2018.

Founder and managing director of intelliHR, Robert Bromage, says the IPO is just another step for the group's plans to become a global player.

"The IPO is a huge milestone for us and I am excited about the opportunities that lie ahead, both within Australia and abroad," says Bromage.

"I believe intelliHR will be a global leader in people management technology, and this is another exciting step on that journey."

The company will use funds raised in the IPO to invest on an ongoing basis into technology and innovation, such as sentiment analysis tools.

Chairman of intelliHR, Tony Bellas, says the platform the group is creating will soon become an industry standard.

"The board supports the vision that Software-as-a-Service (SaaS)-based systems will become industry standard in HR management in the near future," says Bellas.

"intelliHR is well positioned to capitalise on that trend."

Never miss a news update, subscribe here. Follow us on Facebook, LinkedIn, Instagram and Twitter.

Business News Australia

Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support

The cost of not communicating: How Whispir’s tailored messaging tech lifts engagement
Partner Content
While it is common for businesses to haggle with suppliers over small price differences...
Advertisement

Related Stories

Origin slapped with $17m fine for failing to protect vulnerable customers

Origin slapped with $17m fine for failing to protect vulnerable customers

Australian energy giant Origin Energy (ASX: ORG) has today been ord...

Volt’s spark fizzles out: Neobank closes with $113m in deposits

Volt’s spark fizzles out: Neobank closes with $113m in deposits

Customers of neobank Volt have been asked to withdraw all funds fro...

Star Entertainment appoints Tyro Payments boss Robbie Cooke as new CEO

Star Entertainment appoints Tyro Payments boss Robbie Cooke as new CEO

Embattled casino and resorts operator The Star (ASX: SGR) has appoi...

Salad chain FISHBOWL swims upstream with new stores in Brisbane, Gold Coast

Salad chain FISHBOWL swims upstream with new stores in Brisbane, Gold Coast

A Japanese-inspired salad bar from Bondi with "No More Fast Fo...