- Australian payment software company IODM (IOD) has locked up its shares ahead of an upcoming capital raise
- IOD shares will remain in a trading halt until a formal announcement is made concerning the raise on or before December 31
- The company has not indicated how much it hopes to raise or what the funds might be used for
- However, a presentation from its recent annual general meeting indicate a potential international growth and product expansion
- Shares last traded at 16.5 cents prior to the trading halt
Australian payment software company IODM (IOD) has locked up its shares ahead of an upcoming capital raise.
IOD shares will remain in a trading halt until a formal announcement is made concerning the raise on or before December 31.
The company has not indicated how much it hopes to raise or what the funds might be used for.
In its most recent annual general meeting, the company indicated it was well-positioned for growth with a strategic international expansion in the pipeline.
IOD already has a referral partnership with Western Union, which it says is beneficial for building a pipeline across healthcare, manufacturing and professional services sectors in the U.K.
The ASX-lister is also undergoing efforts to diversify its revenue streams by expanding its product offerings and capabilities.
The company says it is unaware of any other information relevant to inform the market.
Shares last traded at 16.5 cents prior to the trading halt.