Schrole up on ASX debut

Recruitment technology company Schrole Group has enjoyed fruitful gains on its first day of trading on the ASX, after completing a reverse takeover of Aquaint Capital Holdings and raising $6 million from investors.

Perth-based Schrole raised the funds through the issue of shares at 2 cents each, with the funds to be used to progress its development plans.

The business owns its three primary products, being technology-based recruitment platforms and consulting service solutions, which are being used by over 200 schools in 30 countries.

By the close of trade, Schrole shares had grown to be worth 3.2 cents each.

“We are delighted to have closed our offer early and oversubscribed, and successfully listed on the ASX,” managing director Rob Graham said.

“The successful completion of this capital raising ensures that we will be able to progress our development plans and continue to deliver top-class educational products worldwide.”

Mr Graham is credited with setting up Schrole in response to time-consuming, arduous and paperwork-heavy issues he and his colleagues faced in the international education space.

The raising was lead managed by Alto Capital and co-led by Xcel Capital.