Quantify debuts on ASX

Local entrepreneur Mark Lapins’ Quantify Technology Holdings has wrapped up its first day of trading on the ASX, after completing a reverse takeover of WHL Energy and raising $5 million from investors.

Quantify, is an ‘internet of things’ company that has developed its flagship product, the Q Device, which provides real-time environmental and risk factors for building occupants while also managing services and utilities to create ‘intelligent buildings’.

The company raised $5 million from investors through the issue of 83.3 million shares at 6 cents each, as part of its reverse takeover of one-time oil and gas explorer WHL Energy.

The deal was announced in September last year.

At the close of trade, Quantify shares were worth 7.8 cents each, after peaking at 11.5 cents during the day.

Mark Lapins, a Perth-based technology entrepreneur, is managing director of Quantify, with former Cisco Systems executive Aidan Montague as chairman and former PaiorLaw partner Alex Paior as a non-executive director.

“The successful capital raising and public listing is a transformational event in our company’s history,” Mr Lapins said.

“The capital raised enables us to progress our strategy and to deliver our flagship Q Device, as well as build a significant sales pipeline to enable high-volume, cost-efficient manufacture to maximise product profitability.

“Our products aim to allow IoT solutions to become part of the fabric of buildings – redefining the industry standard with a view to making Quantify’s solution the platform of choice.”

Westar Capital managed the capital raising.