Serko’s CEO Darrin Grafton said, “Listing on the ASX has been a longtime ambition of ours, and is a significant growth milestone. Nearly 10% of Serko’s shareholder base is in Australia and being dual-listed will give us access to a larger pool of investors.”
“The dual-listing also provides closer alignment between our capital markets profile and our principal partner and customer base, as more than 90% of Serko’s revenue comes from Australia, with more than 70% of the corporate travel market using our platform. We are confident of continued growth in this market and are also undertaking global expansion initiatives, starting with the US and UK, both huge addressable markets.”
Mr Grafton said the company was committed to its New Zealand investor base with Serko’s primary listing and Headquarters remaining in New Zealand.
Serko provides SaaS online travel and expense technology that organisations use to cost-effectively book and manage business travel and related expenses. More than AU$6 billion of corporate travel is booked each year through the system by over 6,000 corporate entities and more than 50 Travel Management Companies.
Serko has been listed in New Zealand since 2014 and was the fastest growing stock on the NZX in 2017.