Thursday, 17 January 2019 10:44

AltoStratos launches $25m capital raise, ASX listing bid

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Global IT and consumer electronics market channel group AltoStratos has launched a $25 million capital raising ahead of a planned listing on the Australian Stock Exchange.

AltoStratos announced on Thursday it had successfully lodged its prospectus with the Australian Securities and Investments Commission, offering 62.5 million shares at an issue price of $0.40 per share to raise up to $25 million, with a minimum share subscription of $16 million representing the issuing of 40 million shares at $0.40 per share.

AltoStratos provides customised routes-to-market technologies, solutions, sales channels, local knowledge and supply chain to simplify and expand market access for global IT brands.

The company says funds raised from the IPO will be used to help it grow its market share across Asia-Pacific through the establishment of new fulfilment hubs as well as to further enhance its B2B and B2C eCommerce platforms.

Lee Yuen Wai, chief executive and managing director of AltoStratos, said: “AltoStratos is excited to be working towards the completion of the IPO process and believe the launch process of the Group on the ASX brings about many opportunities for AltoStratos to continue its development and to advance its growth strategy by expanding into new markets such as China, South Korea, Indonesia, and expanding the Pan–Asian offering into the Australian market.

“We are especially looking forward to roll-out our B2B and B2C eCommerce platforms and fulfilment centres across Australia as Australia is an important market for global IT and consumer electronics brands and manufacturers.”

With offices in Thailand, Malaysia, Singapore and Australia, AltoStratos says it I is strategically located to provide global IT brands with both traditional and digital channels market access across Asia-Pacific through its network of more than 4000 bricks-and-mortar reseller points and its proprietary B2B and B2C eCommerce platforms.

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Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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