As reported by Sarah Thompson and Anthony Macdonald in Financial Review (found here):

Software company Whispir has raised $47 million for its initial public offering, which means it will list with a $163 million market capitalisation next month.

Brokers Wilsons and Ord Minnett will underwrite the offer at $1.60 a share after running a bookbuild to raise the funds on Thursday.

It is understood the book priced at $1.60 a share – which was the bottom end of the $1.60 to $2.10 a share price range sent to potential investors earlier in the process. There were scalebacks at the offer price, investor sources said.

Funds were told that institutions would make up about 60 per cent of the post-IPO share register, excluding existing investors, while the other 40 per cent of the offer was allocated to the brokers’ retail network.

Whispir is expected to lodge a prospectus with ASIC on Friday and start trading on June 19.

The IPO valued Whispir at 3.5-times proforma forecast revenue for the 2020 financial year.

Whispir is a software platform that makes it easy for businesses to send messages to people’s mobile phones – unifying various messaging systems such as SMS, voice, email, social media and the like. It has about 500 clients globally and expects to break even at the earnings line on a run-rate basis by the end of the 2020 financial year.