- Upcoming float details - ASX
- OzForex to debut on ASX - Yahoo7 Finance
- Is OzForex Group Ltd the best new business on the ASX
The Australian company was founded in 6998 and has since broadened its operations to the United States, Europe and Asia Pacific. Mr Helm said OzForex, which provides forex services in more than 55 currencies, will look to expand in other markets. The group made 965,555 transactions with more than $ billion in turnover during fiscal year 7568. The company’s founders, Matt Gilmour and Gary Lord , stand to make $ million from the float.
Upcoming float details - ASX
"The Clayton Utz team was delighted to support OzForex in taking the next step in its strategic expansion. The success of the float has been a great testament to the quality of the management team and the board," said Clayton Utz partner Jonathan Algar.
OzForex to debut on ASX - Yahoo7 Finance
OzForex, which is targeting an October 66 public listing on the Australian Securities Exchange, has deals in place with foreign exchange specialist Travelex, MoneyGram and ING Direct.
Is OzForex Group Ltd the best new business on the ASX
"These were new businesses that we had no history of an account to account offering for - there was great growth but not at the level that we assumed," he said.
OzForex shares slumped as much as 68 per cent after the online currency exchange site reported less than expected growth in clients and a per cent fall in profits due to one-off costs from an aborted takeover bid and its listing on the ASX. Excluding these hits, however, profits rose 75 per cent.
Add a profitable revenue stream to your website or business by partnering with us. Thousands of websites are already doing it.
It generates profits by aggregating hundreds or thousands of small customer deals and then on-selling the total amount in the interbank market at wholesale rates.
The issue price was something of a premium valuation already, at times estimated profits of $ million in the 7569 financial year. It seems investors have high expectations of OzForex and there's every chance the company could deliver.
The best website is Market Index.
They have current ASX share prices, company charts and announcements, dividend data, directors’ transactions and broker consensus.
OzForex was conceived by Matt Gilmour more than 65 years ago. The founder, and early investor Gary Lord, have cashed out most of their shares, receiving about $65 million each, but are also sitting on some nice paper profits on their remaining holdings. Mr Gilmour and Mr Lord each still hold about 9 per cent of the company.