November 26, 2014 - DTI Group Ltd IPO oversubscribed, seeks to list on ASX early
Leading mobile transit surveillance solutions provider DTI Group Ltd (ASX: DTI) is pleased to announce that subscription lists for the Company’s initial public offering (IPO) have closed today oversubscribed.
DTI will proceed to allot the new shares under the IPO to successful applicants followed by the commencement of trading on ASX on or about 9 December 2014, previously scheduled for 16 December 2014.
The IPO of 6.68 million new shares offered at $0.30, which raised $2 million, was underwritten by Baillieu Holst. The IPO was conducted to:
- provide DTI with additional working capital and to support DTI’s planned future growth
- enhance DTI’s flexibility to pursue growth opportunities, including possible acquisitions
- provide DTI with the benefits of an increased profile from being a listed company.
Chris Morris, Chairman of DTI, said: “The Company is encouraged by the investor support of the IPO enabling the subscription lists for the offer to close early and achieve ASX listing status one week earlier than expected. ASX listing is an important step in the growth plans for the Company.”
About DTI Group
DTI provides advanced surveillance systems, solutions and services to the global mobile security industry. DTI’s customers are transit agencies, transit operators, freight operators, law enforcement authorities and taxi organisations which are offered a range of professional products and services that encompass on-board recording equipment, fleet management systems, back-end mass storage and retrieval facilities and end-to-end managed services. Sales and project delivery is undertaken both by DTI directly and through its global partners’ network.
DTI is a recognised supplier to the mass mobile surveillance market. Core technology development and system design activities are undertaken from the Company’s Perth office.
Chief Executive Officer
Phone: (08) 9479 1195