Leederville-based bicycle accessories maker Cycliq has enjoyed steady gains on its first day of trading on the ASX, after completing a reverse takeover of Voyager Global Group.
Cycliq, which makes high-definition cameras and lighting accessories for cyclists, raised $3.75 million from investors at 2 cents a share as part of its backdoor listing.
At 11:30am, the company’s shares were worth 3.9 cents each.
“Crowdfunding has been a massive part of our journey to this point and shows just how influential it can be to growing a business.
“We are currently focused on expanding our distribution networks throughout Europe and Asia, while pursuing sponsorship opportunities that will allow Cycliq to establish a wider foothold in the $200 billion global sports technology market.”
The company earlier this week confirmed a distribution deal with UK bicycle distributor Madison, allowing Cycliq to grow its presence in the UK and Ireland.