Story image

Wynyard proposes dual listing on Australian bourse

19 Mar 2015

Wynyard Group, the crime-fighting software and services developer, plans a dual listing on the Australian stock exchange.

The Auckland-based company's board has approved plans for the company to list on the ASX, with an expected debut in the third quarter of 2015, it said in a statement. Wynyard won't raise any cash from the listing and will keep its New Zealand incorporation and principal listing on the NZX Main Board.

"With a significant part of our revenue and growth coming from the Asia Pacific Region and a growing number of Australian investors, seeking an ASX listing is a logical strategic move for the company," said chief executive Craig Richardson. "Listing on ASX will enable more Australian and foreign investors to hold Wynyard stock, participate in the company's growth and increase the attractiveness of Wynyard shares."

The company was spun out of Jade Software and debuted on the NZX in 2013, raising $65 million in capital to fund its international growth plans. The crime analytics and risk assessment software is in use by the London Metropolitan Police and the New Zealand and Australian police forces, global banks and corporations, and is making inroads into the US market.

At the start of the year, Wynyard signed a $3.2 million contract with an unidentified national security bureau.

Last month it reported a near-doubling in its annual loss as its push for large global contracts helped boost revenue 62 percent in its first full year as a listed company. The net loss widened to $22.3 million, or 19 cents per share, in calendar 2014, more than twice the level forecast in its share float prospectus, although the result was in line with market expectations, owing to subsequent guidance from the company.

Shares of the Wynyard last traded at $1.80 and have fallen 7.7 percent since the start of the year.

Security flaw in Xiaomi electric scooters could have deadly consequences
An attacker could target a rider, and then cause the scooter to suddenly brake or accelerate.
Four ways the technology landscape will change in 2019
Until now, organisations have only spoken about innovative technologies somewhat theoretically. This has left people without a solid understanding of how they will ultimately manifest in our work and personal lives.
IDC: Top 10 trends for NZ’s digital transformation
The CDO title is declining, 40% of us will be working with bots, the Net Promoter Score will be key to success, and more.
Kiwi partner named in HubSpot’s global top five
Hype & Dexter is an Auckland-based agency that specialises in providing organisations with marketing automation solutions.
Moustache Republic expands Aussie presence with new exec
The Kiwi digital commerce partner has appointed a Sydney-based director to oversee the expansion of the company’s Australian footprint.
Epson’s new EcoTank range with two years printing per tank
With 11 new EcoTank printers that give an average user two years of printing and cost just $17.99/colour to refill, Epson is ready to change the game.
Te reo Māori goes global via language app called Drops
If you’re keen to learn a few words of Māori – or as much as 90% of the language, you may want to check out an Android and iOS app called Drops.
Reckon Group announces a steady profit in 2018
Reckon continued its investment in growth throughout the year with a development spend of $14.3 million.