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."

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