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Software company intelliHR (ASX: IHR) has started trading on the ASX following its successful and oversubscribed $4.5 million initial public offering (IPO).
IntelliHR is a Brisbane-based people management and data analytics software company, and last week it issued 15 million new shares at an issue price of $0.30 per share under its IPO.
The company says it is listing on the ASX in order to expand its solutions around the country and push internationally.
The raised capital is expected to help improve the company's brand and allow employees to participate in the business' growth via equity in the company.
Founder and managing director, Rob Bromage (pictured), founded intelliHR after spotting a gap in the market for an automated software solution to assist with human resources.
Bromage says 2018 will be an important one for the company.
"In 2018 we will be enhancing our existing system features which includes our recently launched sentiment analysis tool and further focus on best practice human capital management process innovation and process efficiency," he says.
Shares in intelliHR opened this morning at $0.35 per share.
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