Ovanti Limited

Ovanti Limited (ASX:OVT)

Offer Price

A$0.0200

per share

Offer Size

A$5,000,000

Open Now!
Apply Now
Ovanti Limited

Placement

Ovanti Limited (ASX:OVT)

OVT

Lead Manager

Offer Price

A$0.0200

per share

Offer Size

A$5,000,000

Placement

Ovanti Limited

Key Offer Details

Issue Price (Per Share)

A$0.0200

Discount

-25.00%

Offer Size

A$5,000,000

Shares Available

250,000,000

An Offer to raise up to $5,000,000 via the issue of 250,000,000 shares at an offer price of $0.02 (2.0 cents) per fully paid ordinary share.   The company reserves the right to vary the offer and accept all or selective applications of oversubscriptions up to its LR7.1 and LR7.1A placement capacity at its discretion.

The issue price of $0.02 (2 cents) per share is:

  • a 9.1% discount to the last traded price of $0.022 on 5 December 2024
  • a 11.2% discount to 5-day VWAP of $0.0225
  • a 21.8% discount to 15-day VWAP of $0.0256
  • a 31.6% discount to 30-day VWAP of $0.0292

Company Overview

Ovanti Limited (ASX:OVT) is an ASX-listed fintech company focused on disrupting the rapidly growing buy now, pay later (BNPL) sector in the United States of America (U.S.). OVT is very much a ground-floor opportunity for investors with the strategy being spearheaded by Simon Keast, former CFO of the U.S. for BNPL incumbent Zip Co Ltd (ASX:ZIP).   Despite the success of incumbents such as AfterPay, Zip, Sezzle, and Klarna, BNPL is still in an early phase of development in the U.S. According to industry research the market size is estimated to be US$133 billion in 2024 and is forecasted to grow at a CAGR of 10% to reach US$206 billion by 2029. However, this is still a drop in the ocean with the total addressable market (TAM) is targeted to be the ~US$10 trillion spent on credit cards in the U.S. on an annual basis. For comparison, the Australian BNPL market, seen as a mature market, had an estimated market size of US$7.14 billion in 2023 and is forecasted to reach up to US$55 billion by 2030. Given the current size and the rapid expansion of the U.S. market, OVT has the opportunity to move strategically to establish itself in various industry verticals currently being underserviced or ignored by legacy incumbents.

Indicative Timetable

Irrevocable Bids Due

5pm AEDT, Monday 9th December 2024

Allocations Advised

6pm AEDT, Monday 9th December 2024

Acceptances Due

7pm AEDT, Monday 9th December 2024

Funds Due

5pm AEDT, Friday 13th December 2024

Trading Halt Lifted

Tuesday 11th December 2024

Settlement Date

Wednesday 18th December 2024

Allotment Date

Thursday 19th December 2024

Board & Management

Simon Keast

Simon Keast

Chief Executive Officer

Mr. Keast has over 30 years’ experience in financial services, working internationally across ANZ and the United States. Prior to joining OVT, Simon was the U.S. CFO of Zip Co (ASX:ZIP) and was instrumental in helping the BNPL firm achieve scale and profitability in that market. Previous experience in fintech came from senior positions with Macquarie Group (ASX:MQG), Insurance Australia Group (ASX:IAG) and Westpac Banking Corporation (ASX:WBC).

 Jonathan Kelly

Jonathan Kelly

Chief Revenue Officer

Mr. Kelly is an experienced fintech executive with over 20 years experience across digital payments, digital wallets, and BNPL. He has a proven track record in customer and product innovation as an early employee of PayPal in Australia, rising to Head of New Ventures, an early hire with BNPL-leader Zip Co (ASX:ZIP), as Director of Merchant Services, and as Chief Growth & Innovation Officer at Humm Group (ASX:HUM). 

Daler Fayziev

Daler Fayziev

Executive Chairman

Mr. Fayziev boasts over two decades of strategic leadership in finance. He excels in investments, business development, and client relationships, driving growth through leadership. A global citizen, Daler is fluent in multiple languages, and his bridge-building skills forge strong international connections, fuelling the success of any venture he champions. Daler is the group director of financial services firm Finran, one of OVT’s major shareholders.

Greg Woszczalski

Greg Woszczalski

Non-Executive Director

Mr. Woszczalski has worked across many businesses over the past 22 years in the SME sector, structuring and implementing cash flow and finance solutions and consulting on company restructure. Greg is currently an Executive Director of Dynamoney Limited (formerly Grow Finance Limited), a leading non-bank business lender which he founded in 2016. Previously Greg co-founded 180 Group, a leading non-bank lender, which was divested to an ASX listed entity in 2015. Greg commenced his career at Merrill Lynch where he specialised in institutional debt and derivatives trading, working closely with the debt capital markets team and reported to Merrill Lynch globally on debt market transactions and flows.

Mohammad Shahruddin

Mohammad Shahruddin

Non-Executive Director

Mr. Shahruddin, better known as AJ, is a technopreneur based between Kuala Lumpur and Jakarta.  A computer science professional with over 20 years’ experience in technology, venture funding and investment banking. A generalist by nature. AJ has strong industry ecosystem knowledge and extensive networks within govtech, telcos, tech startup ecosystem, VC, and PE industries in the South East Asia region. He was involved in various Malaysian & International companies to establish business ventures around the region.

Joshua Quinn

Joshua Quinn

Non-Executive Director & Company Secretary

Mr. Quinn has over 20 years of experience in private practice within business services and corporate tax within Big 4 and leading mid-tier accounting firms providing business and taxation advice and compliance services to high net wealth individuals, private family groups, listed corporations and multinationals. Joshua has experience with all aspects of Australian taxation and accounting including income tax, capital gains tax, tax provisions, tax consolidation, tax audits and tax compliance. He has current directorships with Thrive Tribe Technologies (ASX:1TT) and Bridge SaaS Limited (ASX:BGE).

Disclaimer

This site does not constitute an offer, recommendation, or invitation to any person, nor does it purport to provide all of the information an interested party may require in order to investigate the affairs of Ovanti Limited. This site is provided for information only and has not been prepared with the intention that the recipient should rely on it. Liquidity Technology Pty Ltd ("Liquidity") does not make any representation in relation to the contents of this site or give any assurances as to the accuracy or the degree of care or diligence used in preparing this document. The information, data, and advice herein is provided to recipients on the clear understanding that Liquidity nor any of its representatives, directors, officers, employees, agents, or advisers makes any representation or warranty about its accuracy, reliability, completeness, or suitability for any particular purpose and does not accept liability (including, but not limited to, for any expenses, losses, damages, and/or costs (including, but not limited to, indirect or consequential damage)) nor take any responsibility of any kind whatsoever (including, but not limited to, whether in contract, tort, financial or otherwise) for the information, data, or advice contained in or for any omission or for any other information, statement, or representation provided to any recipient (including, but not limited to, as a result of information, data, or advice being inaccurate, unreliable, incomplete, or unsuitable in any way and for any reason whatsoever). Users of this site must conduct their own investigation and analysis regarding any information, statement, or representation contained or provided to any recipient or its associates by Liquidity or any of the Liquidity Personnel. Each recipient waives any right of action, which it has now or in the future against Liquidity or any of the Liquidity Personnel in respect of any errors or omissions on or from this site, however caused. All rights are reserved. If the whole or any part of a provision of this "Notice and Disclaimer" is invalid, illegal, or unenforceable, then such provision will be severed and neither that part or provision or its severance will affect the validity or enforceability of the remaining parts or provisions.

Disclosure of Interest: Liquidity receives commission from dealing in securities and its introducers of business may directly share in this commission. Liquidity and its associates may hold shares in Ovanti Limited.

Ovanti Limited

Placement

Ovanti Limited (ASX:OVT)

OVT

Offer Price

A$0.0200

per share

Offer Size

A$5,000,000

Cancel

I am a sophisticated 708 investor and agree to the terms and conditions

Ovanti Limited

Follow Ovanti Limited

By submitting your information below you can keep up to date with their relevant news and announcements.

Fields marked with * are required.

Name(Required)

Cancel

Ovanti Limited

Submit your details below to get access to the product documents and invest.

Cancel