"Access Investing Limited (previously called Open Investing Limited) (“Access Investing” or “the Company”) is pleased to announce the successful lodgment of its Prospectus with the Australian Securities and Investments Commission (ASIC) in order to raise up to $10 million.
Access
Investing is a unique offering in the market that is designed to provide
ordinary or retail investors with access to unlisted growth and pre-IPO company
investments. These investment categories are currently restricted to
professional and sophisticated investors (called ‘wholesale’ investors).
Managed funds and other wholesale investors are increasingly focusing on
pre-IPO investments due to the potential to generate outsized returns, while
retail investors are still only able to invest at initial public offering
(‘IPO’) stage, generally at a much higher valuation.
A Novel Investment Process
Access
Investing Founder and Managing Director Brett Tucker identified an opportunity
to disrupt the market for private company investing through a novel investment
process within a public company structure.
Access
Investing will use the capital raised from its shareholders to invest in carefully
vetted ‘wholesale only’ offers in prospective companies which are intending to
list on the ASX in a short timeframe. These investments will be distributed to the
Access Investing shareholders as each investment company reaches its IPO on the
ASX, less a small portion of shares retained as a fee.
Benefits to Investors
Effectively
the goal is to recycle all cash invested in Access Investing in the form of
‘wholesale priced’ company shares which, due to the uplift in value as each
company reaches IPO, are worth substantially more than the cash each investor originally
deposits – reflecting the rewards (and risks) of private-to-public company investing.
The
other main benefit to investors is the combined industry networks and
experience of the board of Access Investing, which will be used to source and
carefully select the most prospective investments possible.
The
wholesale investments we hold will be distributed at the commencement of each
investee company’s IPO for two reasons; to satisfy legal disclosure
requirements and to give our investors the freedom to make a trading decision
over the shares of each company they now hold.
The
Prospectus offers 100 million shares at an issue price of $0.10 per share to
raise up to $10 million with a minimum share subscription of $3 million
representing the issuing of 30 million shares at $0.10 per share. All funds
raised will be used for investing activities, less a capped brokerage fee of
2.5%. The working capital of the Company is to be funded by its founder.
Mr Brett Tucker, Managing Director of Access Investing, said:
“The laws around private company investing were put in
place nearly 20 years ago and have worked to limit these investment
opportunities to a select number of wealthy and professional investors. Retail
investors, regardless of their individual investment experience and risk
tolerance level, are still missing out on the higher return potential of private
compared to public company investing.
We are excited to open the world of pre-IPO investing
to the public through Access Investing. We operate differently to a
traditional managed fund - our goal is to distribute all investments we make to
our retail clients so they can make trading decisions on a company-by-company
basis. We also do the work of sourcing and screening pre-IPO companies, only
selecting those which have significant upside potential through a planned IPO,
which are not otherwise available to the public.”"
The full announcement can be downloaded via the link below.
