Knosys to list on ASX ahead of international expansion plans
Knowledge management software provider Knosys has announced that as part of steps to expand the business globally, it will be listing on the Australian Securities Exchange (ASX) on Wednesday.
The company has achieved a market cap on listing of AU$15.6 million, after raising AU$4 million by issuing 20,000 ordinary shares at an issue price of AU$0.20 cents.
Speaking to ZDNet, Knosys founder and executive director Gavin Campion said that while it was never a cemented goal for the company to be listed on the ASX, it was the best strategy to achieve its objective of internationalising the business in Southeast Asia, China, and potentially Europe as part of the business' commercialisation phase.
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"We're doing pretty well in Australia, but we want to fund internationalisation, which we're having some success with signing resellers in Southeast Asia," he said.
According to Campion, the company will continue to rely on its channel partners, including Singtel-Optus and Go Cloud IT Asia, to help continue to speed up growth.
"They're the fastest track to growth for us right now. We've got no current intentions right now to build out a scalable operation capability in deployment and support. We see that limiting our growth curve," he said.
He added that listing on the ASX will help the company win over new customers.
"We're focused on large enterprise and government, and they can be difficult deals to win as a small company. But being public provides that transparency and security that assist us with getting large channel deals and clients over the line," Campion said.
Campion said the company recently secured one of the top four Australian large banks as a client, with which it supplies in excess of 10,000 licences.
Ahead of its expected listing, Knosys recently appointed Ashley Gall to the CEO role, Stephen Kerr to the CFO position, and former Victorian deputy Liberal leader Alan Stockdale as chairman of the board. The company is also now hunting to fill the position of solutions architect and channel manager.