WISR Announces Trading Halt till Further Notice

  • Mar 26, 2019 AEDT
  • Team Kalkine
WISR Announces Trading Halt till Further Notice

On 26th March 2019, WISR Limited (ASX: WZR) announced that the securities of WISR Limited will be placed in a trading halt at the request of the company, pending it releasing an announcement in connection with a potential announcement regarding a placement by the Company. The trading of securities will remain halted either until the beginning of normal trading on Thursday, March 28, 2019, or when the announcement is released to the market.

As per the release, the voluntary trading halt has been in connection with the potential announcement regarding a placement by the company. The company has initiated a bookbuilding process as part of a significant issue of securities. Information about the issue, including in particular the price at which the bookbuilding is completed, may have a substantial effect on the price or value of the company’s shares and trading in the company’s shares pending an announcement of that information would be happening on a basis that is not reasonably informed. The bookbuild process is scheduled to take place over the course of two trading days and overnight. The trading halt is expected to terminate no later than the commencement of trading on Thursday, March 28, 2019.

In a previous update, the company announced about 'Wisr App', its officially launched app. As per the report, around 4K Australians have downloaded the new 'Wisr App' during its testing beta phase, and this app is expected to pay off debt faster via automatically ‘rounds-up’ digital spare change.

Customers of the most Australian banks can use this financial wellness Wisr App to link their everyday transaction accounts, rounding-up purchases to the nearest dollar (AUD) and automatically paying the funds off a nominated debt, including mortgage debt or credit card debt held with any financial institution in Australia.

As per stats, Australians owe approximately $40 billion on credit cards with more than one out of six people struggling with card debt. Around 1 million Australians have long persistent debt, and only minimum amounts are being repaid by 435,000 people, which is a challenge for many Australians to make a meaningful impact on their overall debt.

Although Wisr App is in final testing phase through its closed beta, it has already strongly resonated with debt-averse younger Australian adults, with more than 70% of current users aged less than 35 years old.

In another update, Wisr in its Investor Presentation reported market size for consumer lending of $110 billion. This market consists of $31 billion in credit card balances accruing interest, $39 billion in unsecured consumer lending, and $40 billion in other lending.

Wisr’s core product involves risk-based pricing personal loans in the range $5000 to $60,000 for the duration of three, five, seven years of loan terms. The average loan size is around $25,000 with over four years of the loan term with the gross yield on the book of circa 13%.

On stock information, at market close, WISR Limited’s share price was at $0.063 on March 26, 2019, with the market capitalization of ~$34.51 million. Its 52 weeks high was at $0.091 with an average volume of 3,663,195. Its absolute return for five years, one year, and six months are -64%, 80%, and 26%, respectively.


Disclaimer

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.

 

All pictures are copyright to their respective owner(s).Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from 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.

 

There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

CLICK HERE FOR YOUR FREE REPORT!
   
x
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