![]() ![]() Institutions that bought into the IPO included Cadence Investments, Bell Potter Securities, and UBS. Network communications systems company Cisco and construction industry software provider Coins and Management also have major stakes. Private equity outfit Pierce Group Asia is the largest shareholder. None of the existing shareholders sold down in the IPO, with the money raised being used to bankroll the expansion of its international sales and marketing efforts. Lead broker on the IPO was Keith Kerridge of KTM Capital, who arranged last year’s stellar Freelancer debut. Mr Cumming founded Urbanise with the backing of his former boss Steve Outtrim at Sausage Software. “Management is now focused on growth and delivering the company’s half-year numbers to the market," Urbanise chairman Arlene Tansley said. Investors will be eager for a formal update come the company’s first annual meeting as a publicly listed entity in late November, ahead of interim results in February. While Urbanise was spruiking an improved earnings outlook, on Monday the company refrained from lifting its guidance. It recorded a $1.53 million profit for the financial year ended June 30, representing profit growth of more than 200 per cent. The company has posted a net profit for the past three fiscal years. In the IPO prospectus, the company forecast revenue growth of 88 per cent to $2.41 million in the financial year ended June 2015. “We expect to have two pilot trials running in Australia with companies that are household names by the end of the month," Mr Churchill said. He also told The Australian Financial Review he is confident the company will announce more new contracts in the coming months, including Australian customers. Urbanise chief executive Ben Churchill is optimistic the publicity will help the company pick up more Malaysian contracts. The project included the installation of the Urbanise platform for energy efficiency monitoring. ![]() Last week, Malaysia’s Prime Minister Najib Razak officiated at a ceremony to celebrate the retrofitting of the landmark Prime Minister’s Building as part of his government’s push to make Kuala Lumpur’s public buildings greener and more energy-efficient. Meanwhile, the company also made an announcement seeking to draw attention to another contract win it announced back in July with Malaysian building facilities manager KFM Holdings. He is hopeful an agreement to service United Arab Emirates based Chicago Maintenance and Construction will give Urbanise an in with affiliated company GEMS Education – the largest private school operator in the world. “I now am extremely confident we will meet the guidance for 2015 outlined in the prospectus," Urbanise founder Rob Cumming said. Shortly after listing, Urbanise updates the market on its work with two big new clients in Malaysia and Dubai, which should help the company meet its prospectus forecasts. It recorded a $1.53 million profit for the financial year ended June 30, representing profit growth of more than 200 per cent. ![]() Urbanise CEO Ben Churchill and founder Rob Cumming. The revised deal closed early, four times oversubscribed. Melbourne-based software-as-a-service provider Urbanise originally went to market seeking to raise $15 million but increased the size of its initial public offering to $20 million in response to strong demand. New client wins in Malaysia and Dubai helped cloud-based building facilities management platform Urbanise debut a healthy 50 per cent above its 50¢ per share offer price at 75¢ on Monday.
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