Content Assessment: An IPO Down Under? ASX Welcomes Nuix Limited
Information - 90%
Insight - 90%
Relevance - 100%
Objectivity - 95%
Authority - 95%
A short percentage-based assessment of the qualitative benefit of initial information highlighting the recent IPO of Nuix Limited (NXL) on the Australian Securities Exchange (ASX).
Editor’s Note: On December 4, 2020, Nuix Limited was listed on the Australian Securities Exchange (ASX) under the ticker code of NXL. The public listing represents the next step in a corporate journey for the company founded in 2000 as a response to the increasing digital transformation of the way people live and work. Simply stated, the company focuses on how to create, use, and extract meaning from unstructured data to find truth in the digital world. This focus appears to have been rewarded by the interest in and uptake of their initial public offering.
A Quick Look at the Nuix IPO*
According to The Motley Fool Australia, Nuix was able to raise approximately $953 million through the issue of 179.5 million shares at an offer price of $5.31 per share. It also raised approximately $677.4 million for existing shareholders, including the Macquarie Group Limited (ASX: MQG), through the sales of approximately 127.6 million shares at the same price. The closing price of NLX on the day of the initial offer was $8.01 on a volume of 10,625,969. Nuix’s opened the day with an initial offering of $5.31, a starting market cap of $1.69 billion.
Currently, Nuix is in a highly publicized legal dispute with former chief executive Eddie Sheehy. Based on a dispute over his past share options, if Sheehy wins the case, the market cap for Nuix would be reduced significantly due to additional shares.
*The ASX operates using the Australian Dollar.
A Look in the Rearview Mirror: Nuix 2020 Annual Report
Operating on a fiscal year that runs from 1 July to 30 June, provided below is a copy of the 2020 Nuix Annual Report.
Nuix is a leading provider of investigative analytics and intelligence software with a vision of “finding truth in a digital world”. Nuix’s mission is to create innovative software that empowers organizations to simply and quickly find the truth from any data in a digital world. Nuix software has been used in investigations into some headline events over the last 15 years, including the Panama Papers, the Royal Commission into Misconduct in the Banking, Superannuation and Financial Service Industry in Australia, organized crime rings, corporate scandals, and terrorist activities.
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