GRG International Limited (GRGI) successfully completed IPO on Australia Securities Exchange (ASX) on Oct. 14th. With 24c’s debuting price, GRGI has got 4C (20 percent) premium to its 20C issue price. The completion of IPO has made GRGI the 2nd listed Independent ATM Deployer in Australia, after Customers.
Established in 2008, GRGI is a joint venture of GRG Banking Equipment (HK) Co., Limited, Global Cash Services Pty. Ltd and two other shareholders. Combining China’s largest and number one Banking Equipment manufacturer with proven western management, GRGI is mandated to promote all GRG Banking Products in North American and Australia market, as well as an independent ATM deployer in Australia with its own network ‘EcoCash’.
Capital raised from this IPO will help to expand market shares of GRG Banking in North America and Australia regions, as well as to improve the sales and placements of ATMs to major financial institutions and retail markets within the next five years.