Aquabotix’s IPO Closes Oversubscribed
On April 20, 2017, underwater robotics company UUV Aquabotix Ltd
announced that it was undertaking an initial public offering
(IPO) on the Australian Securities Exchange (ASX). The maximum
subscription under the IPO had been set at A$7 million
(approximately US$5.5 million). The maximum subscription was
substantially exceeded in the IPO, and the IPO has now closed
substantially oversubscribed. Investors will be advised of the
degree (if any) to which their applications for shares have been
scaled back, in the coming days.
Durval Tavares, Aquabotix's CEO, commented, "Following the
commencement of the ASX trading, Aquabotix will be the first and
only dedicated underwater drone publicly-traded company globally.
The level of interest in the industry and in our company that has
been shown by institutional and retail investors in Australia and
internationally during the IPO has validated the six years of
work that have gone into placing Aquabotix into this leadership
position. We look forward to building on our recent substantial
growth in this nascent and rapidly-developing industry, utilizing
the proceeds from this successful IPO."
Apr 21, 2017