SkyFii lists on ASX with $20 million market cap

SkyFii lists on ASX with $20 million market cap

Enters agreement with PT Skyfindo Integrasi Media to establish SkyFii Indonesia

Data and technology company, SkyFii Limited, has listed on the ASX with a market capitalisation of $20 million.

SkyFii is a data and technology company that captures and analyses Big Data to drive customer loyalty and sales.

It has commenced trading after a $3.5 million listing offer at $0.20 per share (minimum subscription was $2.5 million).

The proceeds of the offer will be used to accelerate the Company’s growth plans.

According to a company statement, it has a strong pipeline of existing and prospective clients - target clients include major retail property groups, major venues such as airports, and other retail outlets.

It also has a growing footprint in international markets, including South Africa, Indonesia and Brazil.

The company has also has entered into a Joint Venture Agreement with PT Skyfindo Integrasi Media (SIM) to establish SkyFii Indonesia.

Under the Agreement, SkyFii and SIM will establish a 50:50 joint venture company, to be called SkyFii Indonesia, to facilitate the roll-out of SkyFii’s Big-Data services offering in Indonesia.

Those behind SIM have significant expertise and experience in advertising in Indonesia, and control two of Indonesia’s largest outdoor advertising groups; Rainbow Asia Posters and Eye Corp Indonesia.

With Indonesia having a vast population with a strong appetite and acceptance of free WiFi services, SkyFii sees its expansion into the country as a natural fit.

SkyFii chief executive, Wayne Arthur, said he was delighted with the level of investor support.

"I would like to thank everyone involved in the listing process and our shareholders for their efforts in achieving a successful ASX listing," he said.

"We now look forward to executing our business plans without delay, to position SkyFii as the leading provider of Big-Data services, and to deliver value for our shareholders.

"This will include growing our client portfolio as well as expanding our product and service offering, and we look forward to providing updates on our progress in due course.”

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Tags ASXAustralian Stock Exchance (ASX)SkyFii chief executiveWayne ArthurPT Skyfindo Integrasi Media


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