CVCheck to launch $10m IPO

Perth online screening and verification company CVCheck will soon lodge a prospectus on the ASX, detailing plans to raise up to $10 million in an initial public offering.

CVCheck, which has access agreements to data sources and information providers in nearly 200 countries, is working with local brokers Triple C Consulting to prepare for the IPO, which will likely be valued at 20 cents a share.

“This IPO for CVCheck will be open for investment once they have lodged their prospectus with the ASX,” Triple C said in its latest weekly report.

CVCheck key directors Steve Carolan and Rod Sherwood will be visiting brokers in the eastern states next week to discuss the company.

CVCheck was founded in 2004 based on automated technology that verifies people’s qualifications, work experience and police record.

In the past 10 years it has been servicing the screening and verification market through its online platform, which provides simplified access to a wide range of data providers such as police databases, traffic records, employers and professional membership organisations.

Its service allows individuals and organisations to quickly and cost-effectively verify, screen and check personal information.

Companies using CVCheck can use the platform to perform a wide range of checks including police criminal history, validity of qualifications, bankruptcy and credit history checks on potential and current employees.

CVCheck raised $2 million in a prospectus in April, which offered up to 12.5 million shares at 16 cents each, together with one free option for every two shares issued.

The company is aiming to list on the ASX by August.