Updater Inc.’s (ASX: UPD) Share Mounted on ASX post release of Key Metrics Presentation

  • Sep 14, 2018 AEST
  • Team Kalkine
Updater Inc.’s (ASX: UPD) Share Mounted on ASX post release of Key Metrics Presentation

Updater Inc. (ASX:UPD) announced that it has processed over 20% of all the US household moves in the key months of 2018. It is estimated that by the end of this year company might have 3 million moves processed. The eligibility rate for Paytv and internet are more than doubled in the last 3 months from 03 June 2018. It means that more Updater users are eligible to avail the service through internet and PayTV. 

Also, the company is scheduling for delisting. On 8 October, 2018 company is planning to cease trading on ASX, followed by removal of company from ASX on 10 October, 2018. From 15 October, 2018 the company is going to initiate a comprehensive process of raising funds. The funds that are going to be raised will be used to deploy an acceleration plan and facilitate additional buy-back. The Company is having advanced discussions with multiple investment banks to assist in running the competitive process.

With the release of this news, the share prices of the company climbed up 10.05% on 14 September 2018. UPD’s shares traded at $1.150 with the market capitalization of $570.23 million as on 14 September.

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