{"id":3037,"date":"2018-05-09T23:11:37","date_gmt":"2018-05-09T23:11:37","guid":{"rendered":"https:\/\/raizinvest.com.au\/investors\/raiz-invest-announces-public-offering\/"},"modified":"2020-10-28T01:22:21","modified_gmt":"2020-10-28T01:22:21","slug":"raiz-invest-announces-public-offering","status":"publish","type":"post","link":"https:\/\/raizinvest.com.au\/investors\/blog\/raiz-invest-announces-public-offering\/","title":{"rendered":"Raiz Invest announces Public Offering"},"content":{"rendered":"
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Media Release<\/b><\/p>\n

10 May 2018<\/p>\n

Raiz Invest Limited (\u201cRaiz\u201d or \u201cthe Company\u201d, formerly known as Acorns Grow Australia), Australia\u2019s first mobile-led investing platform, today announced the lodgement of its prospectus for the Company\u2019s public offering \u00a0to raise over $15 million from investors.<\/p>\n

The offering, which is fully underwritten, will provide current Raiz customers with priority access, while also allowing institutional and retail investors the opportunity to participate. \u00a0Shares will be issued at $1.80, valuing the company at approximately $119 million. The offer is expected to close on 1 June 2018 with official listing targeted for 21 June 2018.<\/p>\n

Raiz is a first of its kind Australian, mobile-led, financial services business offering customers an easy way to regularly invest either small or large amounts using its micro-investment platform available via the app or the web. Raiz\u2019s model is centred on breaking down the barriers to investing, giving customer\u2019s confidence in their finances and offering products driven by their feedback and needs. Its end-to-end technology platform, including registry, operations, administration, fund management and customer communication, allows Raiz to deliver a superior customer experience and build-out its product portfolio.<\/p>\n

Since launching in 2016, Raiz has achieved solid growth, amassing over 440,000 signups, with over 155,000 active monthly customers and over $170 million funds under management. The business most recently changed its name from Acorns Grow Australia to Raiz Invest. It is well known for its \u2018Round up\u2019, which allows customers to invest spare change from purchases.<\/p>\n

With significant first mover advantage in technology-led financial services and having now established its core micro-investing product feature, together with a loyal and growing customer base, Raiz is well placed to expand its unquie and simple business model both domestically and offshore. Funds from the offer will be used to support the Company\u2019s growth strategy to expand its products and services and also extend its offering offshore, thereby increasing customers.<\/p>\n

Managing Director of Raiz, Mr. George Lucas, said, \u201cThe public offering of Raiz marks the next step in the growth of the business as we seek to expand our customer base in Australia, offering customer-led innovative products, such as superannuation, and expand into South-East Asia. \u00a0Raiz has improved financial literacy, \u00a0financial inclusion and broadened capital market participation in Australia and this is an attractive proposition for South-East Asian markets.<\/p>\n

\u201cAs part of the offering, we are excited to offer current customers the opportunity to invest and participate in the future growth of our business.<\/p>\n

\u201cIn the more than two years that Raiz has been in operation, it has received overwhelming positive support and feedback from its customers about its affordable service, reflected in the strong growth in active customers and funds under management that we have achieved.<\/p>\n

\u201cThrough technology, we are breaking down the barriers that have previously prevented many Australian\u2019s from saving and investing. This helps our customers to build confidence in managing their own finances as well as increasing their financial literacy. Our philosophy of investing small amounts regularly has resonated with our customer base. Raiz makes this happen automatically, in the background of life, reducing some of the stress associated with managing your finances.\u201d<\/p>\n

Raiz\u2019s competitive advantage is that it leverages technology to offer and facilitate the provision of affordable financial services and products at a lower cost, with greater efficiency, than a traditional financial services business. The business is able to cost-effectively tap into Australia\u2019s huge appetite for financial services.<\/p>\n

\u00a0<\/b><\/p>\n

Timetable Dates<\/b><\/p>\n

Lodgement of Prospectus with ASIC<\/b><\/p>\n

Wednesday, 9 May 2018<\/p>\n

Offer opens<\/b><\/p>\n

Thursday, \u00a017 May 2018<\/p>\n

Offer closes (5pm)<\/b><\/p>\n

Friday, 1 June 2018<\/p>\n

Settlement date<\/b><\/p>\n

Wednesday, \u00a06 June 2018<\/p>\n

Expected commencement of trading on the ASX<\/b><\/p>\n

Thursday, \u00a021 June 2018<\/p>\n

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Don\u2019t have the Raiz App?<\/strong><\/h3>\n

Download it for free in the App store or the Webapp below:<\/p>\n

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\"download-raiz-app\"<\/a>
Click to download the Raiz app<\/a><\/figcaption><\/figure>\n

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Important Information<\/strong><\/span><\/em><\/p>\n

The information on this website is general advice only. This means it does not take into account any person\u2019s particular investment objectives, financial situation or investment needs. If you are an investor, you should consult your licensed adviser before acting on any information contained in this article to fully understand the benefits and risk associated with the product.<\/em><\/p>\n

A Product Disclosure Statement for Raiz Invest and\/or Raiz Invest Super are available on the Raiz Invest website and App. A person must read and consider the Product Disclosure Statement in deciding whether, or not, to acquire and continue to hold interests in the product. The risks of investing in this product are fully set out in the Product Disclosure Statement and include the risks that would ordinarily apply to investing.<\/em><\/p>\n

The information may be based on assumptions or market conditions which change without notice. This could impact the accuracy of the information.<\/em><\/p>\n

Under no circumstances is the information to be used by, or presented to, a person for the purposes of deciding about investing in Raiz Invest or Raiz Invest Super.<\/em><\/p>\n

Past return performance of the Raiz products should not be relied on for making a decision to invest in a Raiz product and is not a good predictor of future performance.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Media Release 10 May 2018 Raiz Invest Limited (\u201cRaiz\u201d or \u201cthe Company\u201d, formerly known as Acorns Grow Australia), Australia\u2019s first mobile-led investing platform, today announced the lodgement of its prospectus for the Company\u2019s public offering \u00a0to raise over $15 million from investors. The offering, which is fully underwritten, will provide current Raiz customers with priority […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false},"categories":[1],"tags":[],"yst_prominent_words":[3264,3265,84,78,3267,3268,546,98,332,616,3266,252,224,3263,313,97,82,117,125,239]}