Powerhouse Ventures to Raise $21 Million From ASX Listing

3rd August 2016, Computerworld NZ, By Stuart Corner

Christchurch-based technology commercialisation company, Powerhouse Ventures, has lodged a prospectus with the Australian Stock Exchange for an IPO to raise up to $A20 million ($21m), after earlier flagging its intention to list on the NZX.

Chairman Kerry McDonald said the company would look to expand its operations into Australia. “We propose to enter the Australian market at a time when governments are determined to ensure university research funding generates commercial outcomes. Powerhouse intends to be a central part of this environment with its excellent university engagement model, business building expertise, capital and networks.”

McDonald said the offer would give investors the opportunity to invest in a business that will “identify and transform intellectual property from New Zealand and Australian universities into globally successful businesses.”

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