Target raise of AUD$35 million exceeded with the raise closing at $36,139,308
Halo Technologies Holdings Limited (ASX:HAL), was admitted to the Official List. The securities of HAL will commence quotation at 1.30pm on Tuesday, 26 April 2022.
HALO Technologies has completed an Initial Public Offering, raising $36,139,308. The Company intends to deploy the capital towards growing its direct and third-party distribution channels and the acquisition of complementary business, in Australia and overseas.
The IPO was strongly supported by retail and high net worth investors.
Feature rich product offerings
HALO is an online global equities research and trade execution software solution that brings sophisticated institutional-grade analytical frameworks and market insights to everyday investors. HALO’s investment software solution offering can be divided into two integrated elements – HALO Global and HALO Trading.
The integration of these products allows a seamless experience for any investor seeking to discover and research investment ideas, execute them, add thematic portfolios, access market analysis and more. Together, these principal offerings deliver the ideal tools for low-touch and self-directed investors and financial adviser networks.
“HALO Global provides an array of tools for investors seeking to discover and research global investment ideas, manage their portfolios, access market analysis and offers in-built trade execution capability. We believe it’s an essential tool for the self-directed investor and a must have for financial advisors in Australia and overseas,” said George Paxton, Chief Executive of HALO Technologies.
Themed portfolios with beneficial ownership
HALO Trading allows Australians to invest directly in the best global companies and trends via customisable thematic share portfolios called “Vues”. Themed investing is also easy to use for SMSFs, with ready-made expertly selected portfolios and in-built tax reporting tools. Unlike an ETF or managed fund, the client is the beneficial owner of the shares.
“HALO Trading’s thematic investment portfolios provide a high level of transparency and control for investors who want to combine the ease of ready-made portfolios with certainty that the activities of the companies they hold fit with their personal values and interests,” said Mr Paxton.
Fast-growing client base
The business has a proven revenue model with growth momentum and established pathways for continued domestic client growth and global expansion. Revenue is earned through subscription sales, brokerage fees, foreign exchange conversion fees and management fees from its B2B and B2C client base.
“HALO has a demonstrated track record of revenue growth, with a CAGR of 173% in Pro Forma Revenue from FY2019 to FY2021. HALO Global grew its subscriber base with a CAGR of 115% from FY2019 and FY2021. “Following the acquisition of the Macrovue global equities trading solution in May 2019, HALO Trading has grown revenues from $0.211m in FY2019 to $5.848m in FY2022.
This acquisition is a good example of management’s ability to find undervalued assets in conjunction with a first-class technology team,” said Mr Paxton.
