July
ikeGPS completes successful IPO – lists on NZX Main Board
ikeGPS (ike, the Company) shares will begin trading on the NZX Main Board today using the code IKE following the Company’s successful Initial Public Offering (IPO) that raised $25 million through the sale of new shares.
Chairman Rick Christie says the IPO attracted as shareholders institutions and retail investors who appreciate the potential of the Company’s solutions to change the way physical assets are measured and modeled.
“Investors clearly understand the attributes of ike’s solutions as well as the strength created by its partnerships with GE, one of the world’s largest corporations, and with In-Q-Tel, the technology supplier to the US intelligence and special forces community. Significantly these commercial partners are also shareholders.”
The new capital raised in the IPO will be used to further build ike’s sales and marketing capability and to extend the company’s solutions for the electric utility, architecture, engineering and construction markets.
ike Chief Executive Officer Glenn Milnes says the Company is forecasting a tripling of revenues for the financial year ending 31 March 2015.
Contact:
Glenn Milnes
Chief Executive Officer
Mob: +64 21 0247 9857
Email: glenn.milnes@ikegps.com
About ike
The mission of ike is to revolutionise every measurer’s day. More than 250 electric utility and engineering customers are using ike’s solutions today for distribution asset management and the Company has recently agreed a Trademark License Agreement with General Electric to market its electric utility solution as GE MapSight. In addition, ike’s mobile solution “Spike” brings the power of this technology to smartphones and tablets. For more information visit www.ikegps.com
