July 7, 2015 0 Comments
Netccentric enjoyed a successful debut on the Australian Securities Exchange (ASX) yesterday. The shares in the Singapore-based digital media company gained 15% in value on the first day of trading and closed at 23 cents or three cents higher than their issue price. From an initial minimum target of A$7.5 million, the company raised A$12.5 million. Founded in 2006 by Timothy Tiah and Cheo Ming Shen, Netccentric is the company behind blogging pioneer Nuffnang, as well as ChurpChurp, Reelity.tv, Ripplewerkz and Dayre. In 2014, the company hit over A$11 million in revenue and enjoyed a 400% rise in profits compared to 2013. The money raised from the IPO is actually the company’s first external capital and will be used to expand the business specifically in Asia and invest in new product development.
Right Click Capital acted as the corporate advisor on the Netccentric (ASX:NCL) IPO.
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