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Mobilicom commences trading on the ASX

Highlights

  • Mobilicom listed on the ASX today following completion of $7.5 million IPO
  • Mobilicom’s technology allows private and secured mobile wireless communication networks without the need for any existing infrastructure
  • Services more than 30 clients across Europe, Asia and the US including large multinationals
  • Funds from IPO to enable growth across government and expansion into the commercial sector

2 May 2017 – Mobilicom Limited, an Israeli-based developer of bound-free mobile private network technology, commences trading on the Australian Securities Exchange (ASX) today at midday following the completion of an Initial Public Offering (IPO) which raised $7.5 million through the issue of 37.5 million new shares at $0.20 per share. The Company has a market capitalisation of $43.5 million with the trading code MOB.

Mobilicom provides private wireless networks for mobile platforms and users without the need for any existing infrastructure. Based in Israel, it has already established a global reach with more than 30 clients in 12 countries across Europe, Asia and the United States which includes large multinational corporations.

Mobilicom’s core technology merges 4G with mobile mesh networking to create solutions for various government and enterprise applications including off-shore oil & gas, train transportation, disaster relief, security & surveillance and government drones & robotics. Users can communicate and share high-definition video, VoIP and broadband data.

The Company will use the funds from the IPO to grow its marketing and sales activities in the current government and gnterprise sector, as well as expand into the commercial sector with development and release of new products for rapidly growing markets.

CEO Oren Elkayam, who co-founded the company with Vice President of Research and Development Yossi Segal, said he was thrilled to see Mobilicom successfully list on the ASX, with the IPO significantly oversubscribed after receiving outstanding support from investors across Australia and Hong Kong.

“A great deal of work has gone into preparing us for the listing and I am pleased we have achieved that. We are excited to be starting our journey as an ASX-listed company and we expect to provide a strong flow of good news over the coming months,” he said.
“We have established our capability in the government and enterprise sector, having deployed our solutions with a range of customers all around the world. Next the company will leverage its proven technology and expertise to expand into the commercial sector.”

Melbourne-based Lodge Corporate Pty Ltd was lead manager for the IPO.