Boku, the world’s leading independent direct carrier billing company, this morning announced its intention to seek admission of its Common Shares to trading on the AIM Market of the London Stock Exchange. .
Jon Prideaux, CEO of Boku Plc, commented: “I am delighted to announce the proposed admission to AIM of Boku, which will position the Company for the next phase of its development.
“In particular, admission to AIM will provide an appropriate structure for the long-term development of the business and enable us to invest in our new product development capabilities to the benefit of our customers.
“We look forward to becoming a public company and to the further growth of our business in existing and new markets.”
Highlights
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Boku’s technology enables mobile phone users, of which there are more than five billion worldwide, to buy goods and services and charge them to their phone bill or pre-paid balance. |
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The business has grown rapidly since its incorporation in 2008, including through the acquisition of two UK based businesses and now employs 148 staff and is active in 49 countries. |
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Boku’s platform connects its customers, including Apple, Google, Facebook, Microsoft, Spotify and Sony, with the billing, identity and sales systems of mobile network operators. The Group’s technology makes a consumer’s mobile phone number a convenient and secure payment method, providing an alternative to credit and debit cards. |
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The Company processed just under US$1 billion worth of transactions in the 12 months to June 2017 and its current annualised run rate now exceeds US$2 billion. |
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Revenues were up 21% to US$10.2 million in the six months to 30 June 2017 compared to the same period in 2016. In the third quarter of 2017, revenues grew to US$6.5m, up by 44% compared to the same period in 2016. The Company also saw continued growth across all of its key metrics: user numbers, total payment volumes and revenue and achieved a positive adjusted EBITDA for the month of September 2017. |
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Boku is seeking Admission in order to simplify its capital structure and provide access to new sources of funds. The funds raised will be used to strengthen its new product development capabilities and optimise its working capital position for the long-term benefit of the business and its customers. |
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Admission to AIM is expected to occur on 20 November 2017. |
