Wednesday December 11, 2019

Fineos floats on Australian market for half the expected cost

The Dublin-based company had expected to incur costs of €10.7 million from its listing in Sydney, which raised about €130 million to fund its expansion plans and allow shareholders to cash out

Ian Guider

Markets Editor

@ianguider
17th November, 2019

Irish software company Fineos shaved almost half of the costs off its flotation on the Australian stock market.

The Dublin-based company had expected to incur costs of €10.7 million from its listing in Sydney, which raised about €130 million to fund its expansion plans and allow shareholders to cash out.

However, Fineos said it spent €4.9 million less on the initial public offering (IPO), as existing shareholders paid the cost of selling their own shares...

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