TECH ENTREPRENEURS SHARE THEIR KEY LESSONS ON LISTING ON THE ASX: PART 2
Written on the 16 October 2017
LISTING on the ASX is a significant milestone in the progression of a company. It means your business is on an internationally recognised stock exchange which tells the market you're open for investment and keen to grow and expand, but of course with that comes the responsibility of complex compliance procedures and being beholden to shareholders.
In part one of our series, Tech Entrepreneurs Share Their Key Lessons on Listing on the ASX, we spoke with three business leaders about the challenges of listing, and in part two we speak with three more about the hurdles they've had to overcome.
Karl Redenbach, CEO and co-founder of LiveTiles (ASX: LVT)
LiveTiles is a global software company that listed on the ASX via a reverse takeover in April 2015. The company is headquartered in New York, with offices in Sydney, Hobart, London, Seattle, Tri-Cities (Washington State) and Minneapolis.
"It's more complex compared to staying private, and one of the key points of difference to remember is that the company's strategic plans and decisions are held accountable to its investors."
"There is only one expectation and that is rapid growth, the only variable is mapping out how you're going to get there. Building a team that you're 100 per cent confident in is absolutely crucial.
"Pitch over and over again and network like crazy. That's how you train. Doing it over and over again will develop a sense for the room. You'll just get better at finding an entry point to the conversation to explain your company's goal and future.
It's the initial match that will engage the audience and you will get permission to go on.
"Australian investors frequently view companies with mainland Chinese origins with suspicion. It's difficult to get investors to 'buy in' to what you're doing. It's doubly hard when you're a company of Chinese origins."
"We completed our IPO earlier this year after a long, arduous process of talking to investors that never seemed to end.
Business News Australia