On Thursday May 23rd, Powerwrap officially listed on the ASX with the code PWL. The listing was an exciting milestone for the business and a culmination of a journey that began in 2008.
The listing ceremony was held in Melbourne and attended by Powerwrap Board and management, long standing staff members and the advisers and partners that assisted Powerwrap throughout the process. We also live-streamed the ceremony back to the team in the Melbourne office. Powerwrap’s Sydney team were attending the Stockbrokers and Financial Advisers conference in Sydney and rang the bell on the main stage.
Shares were issued at 35c and are trading at around fair value after briefly touching a high of 46.5c on the second day. We have effectively grown the investor base to 500 from 300 as a result of the listing and raised $17.4m through the offer which will be used to strengthen our balance sheet, reinvest into business and pave the way for new opportunities.
The Powerwrap team would like to take this opportunity to thank our clients, shareholders and supporters who made this possible.