Pushpay seeking compliance listing on the NZAX
Pushpay seeking compliance listing on the NZAX to accelerate
Pushpay Holdings Limited (Pushpay), an emerging player in mobile payment services, has confirmed it is seeking a compliance listing on the NZX Alternative Market (NZAX) in July. Prior to its listing, Pushpay will raise NZD$9.0 million of new equity through a private share issue at NZD$1.00 per share. The share issue has been fully underwritten by Christopher and Banks Private Equity, a Huljich Family investment vehicle. On completion of the private share issue, Pushpay will have a total number of 50,000,000 shares valuing the company at NZD$50.0 million.
“The private share issue will enable Pushpay to scale its global expansion strategies, particularly in the USA. We are growing rapidly with transaction volume increasing 20% month-on-month and current annualised payments volume at over NZD$35.0 million, up from NZD$17.0 million in late February 2014. We have secured some significant footholds in key vertical markets in the USA, including significant wins in the faith and non profit sectors. Recent success with strategic channel partners in the faith sector has increased merchant demand and also focused our technological development,” said Mr Chris Heaslip, CEO of Pushpay.
“Mobile commerce currently comprises 4% of global credit and debit card transaction volume. The non-point of sale payments sector is under-served, with both consumers and merchants demanding payment solutions that are easy, fast and secure. That’s why we are so hugely excited about the mobile commerce opportunity,” said Mr Heaslip.
Pushpay has appointed Buddle Findlay as its Legal Adviser and plans to appoint Harmos Horton Lusk as NZAX Sponsor in conjunction with the NZAX compliance listing.
To download the Pushpay App, visit the iTunes App Store or Google Play and search for “Pushpay”.
Visit www.pushpay.com to learn more and see an
online demonstration of how Pushpay enables merchants and
consumers to “never miss the moment”.