Sharechat Logo

Smartpay again expresses optimism about Australia

Monday 6th December 2010

Text too small?

Merchant services provider Smartpay will seek a listing on the Australian Stock Exchange by mid-2011 and will also consider joint ventures and strategic alliances as part of an Australian growth strategy.

The company said on October 29, when releasing its interim result, that it was investigating a possible ASX listing. Today it said it would seek a listing in Australia by mid-2011.

The company has raised money via private placements since buying assets of rival Cadmus from receivers last year.

The ASX listing was expected to assist Smartpay in its growth prospects by enabling strategic acquisitions and greater access to working capital funding, managing director Ian Bailey said.

Joint ventures and strategic alliances would also be considered provided they met growth objectives and increased shareholder value.

The Australian market was opening up for direct sales by companies such as Smartpay as a result of banking changes and the need to replace many of the 600,000 Eftpos terminals currently in use.

 

NZPA



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

VCT - Operational performance for the year ended 30 June 2024
Challenge to banks the way to go
Bigger returns or lower risk?
NPH - Director Appointment
July 19th Morning Report
Wellington International Airport Ltd (“WIA040”) - Maturity
Devon Funds Morning Note - 18 July 2024
CNU - Commerce Commission releases draft Price Quality decision
Precinct FY24 Annual Results and Webcast Details
Scott Technology appoints new CEO