Supply chain technology company TradeWindow will list on the local stock exchange next week, after completing a successful funding round in September.
TradeWindow provides a vertically integrated digital trade platform for several major clients, including T&G Global and Whittakers. (file pic) Photo: 123RF
The company, which produces software that digitises the process of managing exports within a trade network, will debut under a direct listing, meaning there would be no offering of public shares.
It had an estimated listing price of 92 cents per share, giving it a market capitalisation of $79.1 million.
"We look forward to introducing TradeWindow to a wider pool of investors through the NZX and providing a pathway for them to get involved in the wider Australasian export story at a time when trade is so critical for ongoing economic recovery," TradeWindow independent chairperson Alasdair MacLeod said.
"TradeWindow is the only player providing a vertically-integrated digital trade platform covering compliance, operations, management, data sharing and storage, internal and external stakeholder collaboration, and end-to-end supply chain traceability," the company said in its listing profile.
Its customers include Synlait Milk, Open Country Dairy, Silver Fern Farms, T&G Global, Sealord and Whittakers.
The company raised $15 million in its latest capital raise in September.
It was led by existing shareholder ASB Bank, which already provides trade finance to hundreds of local exporters.
Other investors to contribute were Quayside Holdings and Anna Mowbray who is the co-owner of the billion dollar ZURU Group.
The company's listing profile shows it generated $357,000 in revenue in its first financial year in 2020, while incurring losses of $3.1m.
Its top line earnings rose to $1.6m for the year ended March 2021, but it reported a loss of $6.6m as expenditure rose in line with with increased investment in the business.
It said the key drivers of its financial performance would be growing its market share, expanding into new overseas markets, and providing customers with a diverse product mix through its trade platform.
This would involve investing in marketing and product development, possible acquisitions and adding more staff.
Some of the risks TradeWindow to investing in the company include security breaches of its cloud platform, software errors, supply chain disruptions and economic shocks.