OpenDNA flat on ASX debut

16/11/2016 - 12:15

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Artificial intelligence company OpenDNA has wrapped up its first day of trading on the ASX after completing an $8 million initial public offering.

OpenDNA COO Kevin Fell (left) with chief executive Jay Shah and chairman Grant Pestell.

Artificial intelligence company OpenDNA has wrapped up its first day of trading on the ASX after completing an $8 million initial public offering.

OpenDNA raised its minimum target after issuing 40 million shares at 20 cents each, with Perth-based Argonaut engaged as lead manager for the IPO.

At the close of trade, OpenDNA shares were worth 16.5 cents each after reaching a high of 18 cents during its first session.

OpenDNA is a customer intelligence platform that creates a 360 degree view of application users’ interests and provides businesses with a single view.

The technology builds detailed psychographic maps on individual users based on their interactions with their commonly used apps.

The company’s registered head office is in Perth, with a branch in the UK and Singapore.

“We are delighted with the strong support that the OpenDNA IPO received and are excited about the company’s future,” chief executive Jay Shah said.

“Customer analytics and personalisation are key areas of focus for all online businesses who push content or products to users and we are confident that our technology is going to play a key part as those trends and industries continue to develop.

“Having assembled a strong board and management team and proven the OpenDNA technology through our own proprietary applications, we are poised now to make rapid strides to full commercialisation and the expansion of our business presence and sales force, both locally and internationally”.

OpenDNA’s board comprises chairman Grant Pestell, who also serves as a non-executive director on the board of local IT firm ASG Group, and non-executive director Evan Cross, who also serves as a director on the boards of MyFiziq and Activistic.

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