Empired up 6% in ASX debut

Shares in Perth-based IT services company Empired Ltd rose two cents in the company's debut on the Australian Securities Exchange, closing at 32 cents.

The company, which offered 10 million shares at 30 cents in its initial public offer, intends to use the proceeds to fund the development of additional service offerings and the national expansion of its operations.

The company, which divested its interest in its BigRedSky talent management software business in June, stated at the time its intention to solely focus on its IT services business.

Empired is chaired by Venture Minerals chairman Mel Ashton, with Russell Baskerville serving as managing director, Craig Ferrier as Company secretary and David Taylor serving as a non-executive director.

Max Capital served as Lead Manager to the deal, while Bell Potter Securities served as sponsoring broker. Ernst & Young served as Auditors, while BDO Kendalls served as investigating accountants. Grange Consulting Group served as corporate advisor, while legal advice was provided by McKenzie Moncreiff Lawyers.

The deal was not underwritten.