Israeli social networking start-up HearMeOut is poised to list on the Australian bourse in December with a valuation of about $13 million amid a spurt in tech IPOs on the ASX.
The company, which has dubbed itself the “audio version of Twitter”, is likely to raise $6.5m through the IPO, above its target of $5.5m owing to strong demand.
Its listing comes as the ASX makes a concerted push to attract tech companies to the index, with the visit of an Australian government delegation to Israel last year sowing the seeds for HearMeOut’s float.
“The Israeli government and the Australian government decided on collaboration of connecting Australian investors and Israeli tech,” HearMeOut co-founder Issy Livian told The Australian.
“The (Australian delegation) came to Israel, they met with us, really liked what we were doing and they flew us over there to meet with potential investors and we got very good vibes.”
Read the full article by Daniel Palmer at the Australian.