Australian Proptech company Openn Negotiation has successfully listed and commenced trading on the Australian Securities Exchange (ASX) under the ticker OPN.
Openn Negotiation’s listing on the ASX on July 21 comes after raising the maximum $9 million through the issue of 45 million shares at 0.20c per share, under the fully underwritten prospectus lodged in May.
Openn Negotiation shares opened trading at 30 cents each. By 12pm AWST on Wednesday, the shares were trading at 0.31 per share. That is 55 per cent above the issue price.
The company will be focusing on a strategic plan for the continued development and expansion of the Openn platform, supported by the new funds raised.
The growth strategy includes a scale-up of the Openn Negotiation platform and technology, as well as a pilot expansion into the United States.
“It’s an exciting time for Openn as the need for transparency within the real estate process has never been more important than right now, given the strength of the current property market,” Openn Negotiation’s managing director Peter Gibbons said.
“Our technology solution keeps all stakeholders informed about the negotiation through their device in real time, allowing them to make confident decisions about buying or selling.”
Openn Negotiation is a cloud-based software platform that facilitates real time negotiation, digital contracting and file management for property sales.
Real estate agents using the platform note it enhances their relationship with buyers while ensuring the best outcome for their vendor.