- Australian technology company Nuix (NXL) has listed on the ASX in a $1.8 billion float
- Under its initial public offering, roughly $953 million was raised through the issue of more than 179.4 million shares at $5.31
- Nuix will use the money to broaden its shareholder base, provide a liquid market for shares, repay existing debt, and provide financial flexibility
- First conceptualised in the early 2000s, Nuix was developed to make unstructured data searchable and “find truth in a digital world”
- It helps customers process, index and analyse data from any digital source and has been used in investigations related to the Panama Papers
- In FY20, Nuix achieved total revenue of $175.9 million, an increase of 25.9 per cent from the $139.6 million experienced in FY19
- Nuix ended the day 50.9 per cent in the green with shares trading at $8.01
Australian technology company Nuix (NXL) has listed on the ASX in a $1.8 billion float.
Under its initial public offering (IPO), roughly $953 million was raised through the issue of 179,479,144 shares at $5.31.
Nuix also raised $677.4 million for existing shareholders, which was completed through the issue of 127.6 million shares at the same price.
The company has shareholders such as Macquarie Corporate, HSBC, and JP Morgan who respectively hold 30.1 per cent, 11.8 per cent, and 9.9 per cent.
Nuix will use the money to broaden its shareholder base, provide a liquid market for shares, repay existing debt, and provide financial flexibility to support its growth.
First conceptualised in the early 2000s, Nuix was developed to make unstructured data searchable and “find truth in a digital world”.
It helps customers process, index and analyse data from any digital source and has been used in investigations related to the Panama Papers, and the Royal Commission into Misconduct in the Banking, Superannuation and Financial Service Industry.
In FY20, Nuix achieved total revenue of $175.9 million, an increase of 25.9 per cent from the $139.6 million experienced in FY19.
It also had earnings before interest, taxes, depreciation and amortisation (EBITDA) of $62.6 million, a more than $20 million increase from $35.2 million in FY19.
Further, as of June 30, Nuix had $67 million in pro-forma net cash.
Nuix ended the day 50.9 per cent in the green with shares trading at $8.01.