- Bicycle retailer BikeExchange (BEX) is aiming to list on the Australian Securities Exchange (ASX) in early February
- The company is aiming to raise $20 million by issuing nearly 77 million shares at 26 cents each
- BikeExchange is an online marketplace where customers buy, sell or find bikes, parts, accessories, events and tours
- It’s recently benefitted from greater eCommerce traffic, with online revenue up sixfold in the past financial year
- Promisingly, the retailer says it’s also noted this momentum in 2021’s first quarter
- The company is hoping to list on the ASX on February 9
Bicycle retailer BikeExchange (BEX) is aiming to list on the Australian Securities Exchange (ASX) in early February.
The company is currently aiming to raise $20 million to list on the stock exchange. It will issue nearly 77 million shares at 26 cents each, with the retail offer set to close on January 25.
BikeExchange is an online marketplace where customers buy, sell or find bikes, parts, accessories, events and tours.
Importantly, the company generates revenue from subscriptions and eCommerce transaction commissions.
During the COVID-19 pandemic, BikeExchange benefited from site traffic, which increasing by over 187 per cent globally.
Last financial year, eCommerce revenue increased by 492 per cent over the first half of 2020, with transaction numbers increasing by 292 per cent. Promisingly, BikeExchange says this momentum has continued through the first quarter of 2021.
BikeExchange hopes to list on the ASX on February 9.