$69 postpage LB

intelliHR Holdings declares $ 3.76-million capital raising offer

  • April 18, 2019 12:43 PM AEST
  • Team Kalkine
intelliHR Holdings declares $ 3.76-million capital raising offer

intelliHR Holdings Limited (ASX: IHR) is an Australian HR technology business developing and currently marketing a next-generation cloud-based people management and data analytics platform, that is is scalable to a global market and is industry agnostic.

Gold MTF non-AMP

On April 17th, 2019, the company announced a capital raising of up to $ 3.76 million, comprising a $ 1-million placement and a non-renounceable $ 2.76 million rights issue at an issue price of $ 0.12 per share, which reflects a 17.2% discount to the last close of $ 0.145 on the ASX. In addition, one attaching option will be issued to investors for every two shares issued under the placement and rights issue.

The capital raising includes a placement of 8,333,333 fully paid ordinary shares to clients of Moore Stephens (VIC) Pty Ltd and Adelaide Equity Partners Limited and a non-renounceable offer of 1 new Share for every 5 existing shares held as of April 29th, 2019. As per the schedule, the shares are expected to be issued on April 23rd, 2019 and would begin trading on April 26th, 2019.

According to intelliHR, the funds raised would be utilised for the ongoing R&D and product enhancements to integrate additional modules for a complete people solution for customers. Besides, there would be continued investments in analytics, natural language processing and reporting functionality to maintain and widen product advantage over competition.

Moreover, intelliHR also plans to invest into domestic and international sales and marketing to expand growth pipeline as it targets a run rate of 4 new customers per sales person per month. The funds will also be expended to supplement the general working capital and enable ongoing execution of business strategy to grow the customer base to more than 7,500 contracted users.

Recently, intelliHR announced that its concentrated sales and marketing approach in the New Zealand market with a dedicated expansion team, have successfully resulted in an increased number of customer wins. The company signed its fourth New Zealand based customer welcoming a NZ Energy Utility to its fast-growing high-profile customer base. When recent customer signings are fully implemented, the total New Zealand headcount is expected to exceed over 1,000 paying users. With a strong pipeline of potential customers, the trend is expected to continue through the remainder of CY19 and beyond.

Moreover, in March 2018, the company achieved a significant milestone upon signing its 50th (and also 51st) contracted customer to the intelliHR HR management platform, which depicts a 16% increase on the 44 signed organisations as of December 31st, 2018, and a 143% increase on total customer contracts signed as at March 31st, 2018.

During the six months (half-year) to December 31st, 2018, intelliHR recorded a 52.8% increase in the Contracted Annual Recurring Revenue to $ 620,400 along with a 57.4% rise in contracted paying users to 5,170. Besides, in October 2018, the company received an R&D Tax Incentive refund of $819,836, the proceeds of which were used to develop software functionality.

The IHR stock price last traded on April 10th, 2019 at AUD 0.145 and a trading halt was imposed on the securities of intelliHR on April 15th, 2019, awaiting the release of an announcement (regarding capital raising) by the company. The stock has generated a strong YTD return of 61.11%.


This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.



The website https://kalkinemedia.com/au is a service of Kalkine Media Pty. Ltd. (Kalkine Media) A.C.N. 629 651 672. The principal purpose of the content on this website is to provide factual information only and does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. In providing you with the content on this website, we have not considered your objectives, financial situation or needs. You should make your own enquiries and obtain your own independent advice prior to making any financial decisions.
Some of the images that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed on this website unless stated otherwise. The images that may be used on this website are taken from various sources on the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image. The information provided on the website is in good faith, however Kalkine Media does not make any representation or warranty regarding the content, accuracy, or use of the content on the website.


We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK