Digital sales platform, Openn Negotiation is just hours away from becoming a publicly-listed company, with the real estate proptech co set to start trading on the Australian Securities Exchange (ASX) from 10am on July 21.
The move comes after the home-grown platform announced its intention to go public in early May and follows milestone recent momentum where it clocked up $2 billion in sales.
In an official announcement, the company noted it would be trading under the ticker ‘OPN’ after fully subscribing its recent share offer.
Since first flagging the move on May 13, the company has raised $9 million through the issue of 45,000,000 shares at $0.20c per share under a fully underwritten prospectus.
Launched in 2016, Openn is a cloud-based software platform that facilitates real time negotiation, digital contracting, and file management for property sales.
The platform is designed to build trust between agent and buyer, whilst ensuring price maximisation for the seller.
In March this year, Openn was also selected as a class member of the technology accelerator program, NAR Reach 2021, courtesy of its commitment to “empowering real estate professionals to facilitate a transparent way to find the true market price for a property”.
The funds raised through the initial public offering (IPO) will facilitate Openn’s expansion to meet industry demand, specifically in Australia, New Zealand, and North America markets.
“Branching out into America and exploring international expansion aligns with the company’s long-term vision and growth strategy,” Openn Negotiation explained.
