Atturra Limited IPO: How to invest in the IT firm?

Highlights

  • Atturra Limited to list on ASX by 22 December 2021.
  • Proposed ASX:ATA IPO planned to raise AU$24.8 million.

IT services company Atturra Limited, is going to make its debut on ASX soon. The retail offer for its IPO is closing today, 8 December, 2021 and the proposed ATA shares are expected to begin trading on ASX from 22 December 2021.  Atturra seeks to raise AU$24.8 million from its IPO at AU$0.50 a share.

What is Atturra Limited’s business?

  • Atturra, is an IT services company basically into designing, implementation and maintenance of IT systems.
  • The company supposedly makes around AU$125 million a year’s worth of revenue. It claims to have grown revenue by 23% a year in last three years.
  • Atturre’s business is focused on niche sectors like defence. Its clients include Ampol, ME Bank, the Department of Defence and Water and Environment, alongside others.
  • Atturra, began in 2015 as FTS Group, and claims to operate in a growth market with high barriers to entry, helping it win new or recurring revenue.
  • The company seeks to list itself on ASX with ticker ASX:ATA.

How to invest in Atturra Limited shares?

  • Atturra has lodged its prospectus with the ASIC and trading on proposed ATA shares will begin from 22 December.
  • Its IPO lead managers were Morgans Corporate Limited and Shaw and Partners Limited seeking to raise of AU$24.8 million at AU$0.50 per share.
  • However, the retail offer for IPO has ended today, 8 December 2021, however, investors can buy shares from ASX post 22 December 2021, when it is publicly available.
  • Before buying in however, investors must study Atturra’s IPO prospectus and other media reports carefully.

Bottom line-

Atturra’s IT services are focused on clients who operate in sectors hard to enter and claims to get repeat business from here. However, how well Atturra Limited can use funds raised from IPO to successfully expand business will only be visible with time.

Also Read: Top End IPO: How to invest in the energy stock?

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