Some great Australian companies have aimed, where able, to harness the challenges of recent times and unlock new opportunities for growth by creating value for employees, customers and investors.
Cloud-based loyalty management platform provider My Rewards International (MRI) is an example of such an Australian company.
In late 2021, MRI announced its appointment of Lead Manager Barclay Pearce Capital for an IPO to raise up to AUD $7 Million for a valuation of up to AUD $40 Million.
As reported by the Australian Financial Review on 21 September 2021, “the IPO follows a pre-IPO raise that brought in $3 million, and a recent acquisition of Infinite Rewards” which reports more than $12 Million in revenue.
Following its successful IPO with Lead Manager Barclay Pearce Capital, which closed by December 2021, the company is due to start trading publicly on the ASX under ticker symbol MRI (ASX:MRI) in the near term.
The listing of MRI's shares on the ASX is, according to Kalkine Media, 1 of 10 "highly anticipated IPOs to be listed on ASX in 2022".
In this short interview segment with MRI executives Maitreyee Khire, Managing Director, and David Vinson, Chairman, Sally A Illingworth gains insight on what is pegged to make the company more valuable than it is today.
According to Stockhead, the global loyalty management market is "forecast to grow to USD $15.5 Billion by 2026 at a CAGR of 15.3%".
Stockhead also noted "As a part of the IPO, the company [My Rewards International] will acquire Perx Rewards Pty Ltd, adding [AUD] $12.5M revenue to the My Rewards Business".
The company already has a range of large clients under its belt, including Telstra, Ria Money, Ramsay Health, MLC and AIG.
Access the Executive Highlights Flyer for the interview, between Sally A Illingworth and MRI executives Maitreyee Khire and David Vinson, by clicking here.