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ATTURRA LIMITED — Capital/Financing Update 2021
Dec 21, 2021
64442_rns_2021-12-21_240fc6fa-cd63-4233-8ff3-8685341f8279.pdf
Capital/Financing Update
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ASX Announcement 22 December 2021
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Atturra Trading Update
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Atturra lists on the ASX under company code ATA today at 10:30 AEDT, following a successful IPO to raise approximately $24.8 million
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Key metrics of the business continue to show strong performance and Atturra is on track to meet its prospectus EBIT forecast
Atturra Limited (“ Atturra ” or the “ Company ”), will commence trading on the Australian Stock Exchange today under the ASX code, ATA at 10:30 AEST. Atturra raised approximately $24.8 million through its Initial Public Offering (IPO) - with an issue price of $0.50 per share implying a market capitalisation of approximately $100m.
The majority of funds raised in the IPO will be used to accelerate the Company’s growth strategy, primarily via acquisitions.
Stephen Kowal, Chief Executive Officer of Atturra, said:
“Today marks another major milestone in Atturra’s history as we look to capitalise on the large addressable market and considerable industry tailwinds in Australia’s IT services market. We see considerable existing and near-term growth opportunities within the business and aim to grow both organically and inorganically to become a significantly larger business than we are today.
I’m particularly proud of the long-term client relationships we’ve built across private and public sector and multiple industries. The experience, expertise and knowledge that Atturra shares with its clients results in a very high retention rate, with 49 of our top-50 clients in FY19 remaining active clients today. The funds raised as part of the offer will allow us to accelerate our growth plans and continue to deliver the highest quality of customer experience to both new and existing clients.”
Trading Update
During the IPO process key business metrics continued to show ‘on-target’ performance of the company. Sales continued to be strong between 1 November 2021 and 21 December 2021 and the company remains on track to achieve its prospectus forecast.
Stephen Kowal added:
“Atturra has grown rapidly since its inception, building its knowledge and technology expertise to maintain a competitive and defensible position with clients. This knowledge underpins the Atturra business model, and enables the Company’s consultants to design, implement and maintain IT solutions for its clients.
We will continue to target high growth industries where Atturra can build a sustainable and long-term advantage, and where significant barriers to entry exist. Our goal is simple, we want to be one of Australia’s largest IT solutions providers with high engagement across industry, employees and clients.”
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About Atturra:
Atturra is a leading Australian owned and ASX-listed technology services business. Atturra is a leader in designing, implementing and maintaining IT solutions for many of Australia’s largest private and public entities. Atturra offers consulting, IT services and technology solutions to accelerate digital transformation in the growing Australian IT services market, with an estimated spend of $37.0 billion in 2021.
Further information can be found on the company’s website atturra.com or by contacting Atturra or email [email protected]
This announcement has been authorised for release by the CEO and Executive Director.
For further information please contact:
Kunal Shah Company Secretary E: [email protected]