Bridge SaaS Limited has been included in the official registry of the Australian Securities Exchange (ASX), raising $4.5 million through an initial public offering of 22.5 million shares at $0.20 per share.
- Bridge commenced trading on the ASX as of, OCTOBER 6, 2022, with the ASX code “BGE”.
At the time of listing, Bridge’s fully diluted market capitalisation was $15.4 million, based on 69.56 million shares and 7.43 million options outstanding.
Bridge is seeking to enter into new vertical markets including Aged Care and Home Care, while expanding its existing Employment Services and NDIS revenue (the company having recently entered the NDIS vertical market).
According to Bridge, its software solution has been adopted by six NDIS providers since the Prospectus was filed in August, demonstrating that there is a strong demand for a solution that improves compliance, efficiency, and productivity with NDIS clients and programmes.
Managing Director and CEO, Jamie Conyngham says we are delighted with the level of support from investors and would like to thank our joint lead managers for their tremendous efforts.
“The success of the IPO is testament to the market’s enthusiasm not only for our highly scalable platform but also the strength of our product offering, its potential for significant growth, and our ability to continue to innovate and offer greater efficiency solutions for our customers.” says Conyngham
Bridge has been aggregating data and improving its product line for over 13 years, and as a first mover in the Australian market, it’s fortunate to be in an excellent position to continue to gain a larger market share in a heavily diversified and expanding industry.
“We see tremendous opportunities to grow in the short term, especially into adjacent market segments such as Aged and Home Care, as well as significant expansion opportunities in our existing Employment Services and NDIS revenue streams.”
“Bridge is taking a major step forward with an IPO on the ASX that will significantly strengthen the company’s ability to expand, and we are now even more excited about the Company’s prospects for the future.” says Conyngham
