TSK - TASK Group Holdings

**sb9** · 29-07-2020, 08:37 AM

No wonder ASX is more attractive for Tech companies..

Plexure Group Limited (Plexure) announces today that it intends to investigate undertaking an initial public offering (IPO) and applying for admission to the Official List of the Australian Securities Exchange (ASX).
This may involve Plexure moving its primary listing from the New Zealand Stock Exchange (NZX) to the ASX and re-classifying its current NZX listing as an NZX Foreign Exempt listing, which would allow its shares to continue to be quoted on the NZX.
As the Company requires significant capital for its next phase of growth, investigations into a move to the ASX are based on capital availability and support for technology companies like Plexure.
https://www.nzx.com/announcements/357024

**Leftfield** · 29-07-2020, 08:38 AM

Announcement today....PLX investigating ASX listing.

"Plexure Group Limited (Plexure) announces today that it intends to investigate undertaking an initial public offering (IPO) and applying for admission to the Official List of the Australian Securities Exchange (ASX).
This may involve Plexure moving its primary listing from the New Zealand Stock Exchange (NZX) to the ASX and re-classifying its current NZX listing as an NZX Foreign Exempt listing, which would allow its shares to continue to be quoted on the NZX"

See it here.

**winner69** · 29-07-2020, 08:59 AM

Wonder how much 'significant' is?

Plexure says'As the Company requires significant capital for its next phase of growth'

Hopewe don't get diluted too much ...but then 50% of heaps more is better than 100% of not very much

**Brain** · 29-07-2020, 09:17 AM

Significant capital for the next phase of growth. I guess significant means we are unlikely to get this amount of dosh from NZ shareholders even though I suspect many holders would be willing to pony up.

I would suppose that the capital would be applied to hiring more staff. This is a very labour intensive SAAS company.

Balance was warning us all about that a while ago.

Or maybe they are going to make a few acquisitions.

**tango** · 29-07-2020, 09:30 AM

Hmmm. The ASX move may benefit us but I would have loved for existing shareholders to have been offered the chance to invest before an IPO in Australia. I hope we get some sort of preferential deal backdated to shareholders at the time of the announcement

**nevchev** · 29-07-2020, 09:57 AM

My experience with listing on the asx is the sp drops initially then languishes for a while before heading north again.Could be a good move med to long term.

**Leftfield** · 29-07-2020, 10:16 AM

Originally Posted by nevchev

My experience with listing on the asx is the sp drops initially then languishes for a while before heading north again.Could be a good move med to long term.

I held ATM before it listed on ASX...... the rest is history.

If PLX can emulate ATM/XRO (or even 20% of them) then I'll be v happy.

Great longer term move IMHO, SP today or tomorrow a mere distraction.

Disc - hold.