VMob to join hot tech stock listings

Last updated 16:45 22/01/2014

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New Zealand cloud-based marketing company VMob is meeting potential Australian investors this week and is expected to make a run at the ASX boards with the help of broker Morgans.

The company is already listed on New Zealand's NZX Alternative Market with a $54 million market capitalisation, and wants to be dual-listed in Australia by the end of the year.

VMob will meet with potential investors in Sydney on Wednesday, after similar meetings on Tuesday.

It's already known to some institutions, who tipped in as part of a $4m funding round last year.

Xero's name is likely to be mentioned in investor meetings - and would have helped open a few doors. Phil Norman was founding chairman of the $5 billion Kiwi software giant, and he now chairs VMob's board.

The investor meetings come amid heightened interest in tech stocks in Australia and New Zealand, following the strong sharemarket performance of the aforementioned Xero, Freelancer.com and others.

Street Talk reported on Tuesday that another Kiwi tech stock, Serko, had dusted off float plans and was believed to be working with UBS on a deal. There is also Perth-based financial services provider Decimal, which is seeking a back-door listing in April.

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- AFR

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