09 September 2014
Global technology trading and payment platform provider BPS Technology Limited (“BPS” or “the Company”) today made its debut on the Australian Securities Exchange, commencing its life as listed company.
The IPO closed fully subscribed on 28 August.
BPS Technology owns the world’s largest global Trade Exchange, Bartercard. Its trading platform, TESS, facilitates more trades than any other platform and is well positioned to become the leading global software provider to Trade Exchanges – a sector that globally settles transactions worth US$20 billion per year and is forecast to grow at 15 per cent per annum. BPS also provides loyalty programs and mobile payments through its “Bucqi” program.
BPS Technology CEO Trevor Dietz said: “We are pleased to welcome a number of brand name Australian and International institutional investors to the register along with more than 450 individual investors. The strong investor response reflects BPS Technology’s exciting international growth prospects.
“The public listing gives BPS an appropriate capital structure to pursue the Company’s long term growth strategy of expanding its existing operations further into key markets, such as the USA and UK.
“The highly fragmented nature of the global Trade Exchange market also creates a range of growth opportunities through a combination of organic growth and targeted acquisitions of other Trade Exchanges,” he said.
The IPO raised $28 million through the issue of 28 million shares at $1.00 per share.
US growth strategy on track
BPS Technology’s USA growth plans are progressing well following the sale of a second Region in the highly strategic Eastern USA area and the sale of the first Unit Franchise in that Region, marking an important advance in the company’s US growth strategy.
Commenting, Mr Dietz said: “We have a significant growth agenda for our business with plans to establish 20 new regions in the US over the next five years and the US market is a key plank of that growth strategy.
“This is the second US Region we have sold and we are delighted to have secured first class operators in the highly strategic Eastern Region encompassing the states of Virginia, West Virginia, and the District of Columbia along with the southern parts of Maryland. This is a clear demonstration of the appeal of the Bartercard brand in the US market and the strength of our TESS trading platform and augers well for our North American growth strategy,” he said.
Senior management appointment
Bartercard also announces the appointment of franchise industry veteran Phillip Ciniglio as CEO of Bartercard UK to lead the company’s growth strategy in its UK and European operations.
Originally from the UK, Mr Ciniglio brings a wealth of senior executive experience to Bartercard’s European business. He has an established track record in successfully developing more than over 30 Franchise systems for many well-known brands, including Donut King Australia, Century Yuasa Batteries and Bartercard Australia.
Commenting on Mr Ciniglio’s appointment, Mr Dietz said: “We are delighted to have attracted someone of Phillip’s calibre to lead the growth of one of our key strategic growth markets: the UK and Europe.
“Phillip is a skilled business and marketing strategist with the right experience Bartercard needs to firstly take our UK business to the next level, and further into Europe,” he said.
About BPS Technology
BPS Technology Limited is a global technology trading and payment platform provider whose proprietary technology drives customer and merchant growth for SMEs.
Headquartered in Queensland, Australia, BPS has three complementary international technology platforms, which include:
The three complementary offerings are being rolled out internationally by BPS and allows the Company to earn fees on all transactions facilitated by those platforms.
BPS Technology employs more than 300 staff globally, with 75 offices across 7 countries, including 40 offices in Australia, and offices in New Zealand, UK, USA, Thailand, UAE and Cyprus.
For more information, visit: www.bpstechnology.com
For further information, please contact:
Chief Executive Officer
T: 07 5561 9000
T: 02 9955 9899
M: 0413 746 949