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- Online travel booker Serko is looking to raise roughly $4.6 million from shareholders to fuel its global expansion
- The company operates a software which simplifies corporate travel and manages business expenses
- This raise makes up part of a near $42 million raising initiative which is backed by NASDAQ-listed Booking Holdings
- A partnership is also established with travel site booking.com, which will see its program promoted
- Serko’s share price is up 6.1 per cent, currently trading for $4.35 per share
Online travel booker Serko has announced to the Australian market it’s looking to raise roughly $4.6 million (NZ$5 million) from shareholders to help fund its global expansion.
This raise makes up part of the company’s near $42 million (NZ$45 million) raising initiative which it announced last week. The company is rolling out its program, Serko Zeno, which aims to simplify corporate travel.
Serko’s software manages business travel and overseas working expenses.
NASDAQ listed Booking Holdings, which is trading for $2962.61 (US$2049.55) apiece, is acting as a cornerstone investor to the raise. In doing so, it will assume a 4.7 per cent interest in Serko.
Fellow online travel reserver booking.com, a subsidiary of Booking Holding, is partnering with Serko to promote Serko Zeno internationally.
During this raise, shareholders will have the opportunity to buy into the company at $4.04 per share.
At market close, Serko’s share price gained 6.1 per cent today, bringing it to $4.35 a share.
