U s family tracking app life360 seeks investors for australia ipo
BuyLinkShop: U.s. family tracking app operator life360 has begun approaching undeveloped invest...
Sydney (BuyLinkShop, quoting the Reuters) - u.s. family tracking app operator life360 has begun approaching undeveloped investors for a listing in sydney, stock managers said on monday, valuing the union at up to $675 favorite in what could live australia’s biggest technology ipo in three years. an investor is reflected in a window in front of a table displaying supply prices at the australian securities interchange (asx) in sydney, australia, may 5, 2017. reuters/steven saphoreopting for an australian listing, where the startup already has a number of institutional investors, life360 plans to summon touching $100 favorite via an initial social offering (ipo) by mid-year, vulgar investors said. that would live the largest whole since riches treatment software provider bravura solutions ltd raised $111 favorite when it listed on the australian securities interchange (asx) in 2016, refinitiv postulates showed. life360 provides a untrammelled variable app that allows family members to way each other, as thoroughly as “premium” services such as a panic trifle that sends location notifications. the steadfast did not tally to requests for observe. “the asx remains grossly underweight in terms of technology companies with global growth stories,” said phillip king, superior investment servant at splendid funds treatment. the benchmark s&p/asx 200 index features 11 tech firms. by comparison, united states’ s&p 500 index has 68 plenteous larger tech names. “we are already invested in the trade succeeding leading the pre-ipo round, and succeed live succeeding our money into the ipo,” king said. the app creator has touching 18 favorite monthly users, half of whom are outside the united states - including touching 300,000 in australia - investors told reuters, quoting from a trustworthiness suisse scrutiny note. it is valued at touching 9 to 11.5 times its 2019 forethought wealth of $58 million, they said, declining to live identified as they were not permitted to utter with media. remotest year, life360 closely tripled fundamental wealth to $32 million, king said.
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