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- Software company Urbanise.com (UBN) has entered into two trading halts ahead of an upcoming capital raise
- At this stage, it is unknown how much the company is aiming to raise or where the funds will go
- Despite raising upcoming capital, the company ended FY20 with a healthy 4.5 million in the bank – a 22.8 per cent increase from FY19
- Urbanise operates a cloud-based platform that helps manage facilities, strata and assets to work smarter and more efficiently
- Company shares will not be trading until Tuesday (October 27) or whenever more details are released to the market
- On the market, Urbanise last traded for 8.8 cents on October 20
Software company Urbanise.com (UBN) has entered into two trading halts ahead of an upcoming capital raise.
At this stage, it is unknown how much the company is aiming to raise or where the funds will go.
Urbanise will remain the trading halts until Tuesday (October 27) or when more details about the raise are released to the market.
The company’s cloud-based platform helps manage facilities, strata and assets to be smarter. Today, over 20,000 properties are managed smarter and more efficiently using the Urbanise platform.
For the 2020 financial year, Urbanise increased its revenue by 19.5 per cent to around $9.7 million and reduce its earnings before interest, taxes, depreciation, and amortisation (EBITDA) loss by 33.1 per cent to $2.37 million.
Following the COVID-19 pandemic, the company delivered seamless solutions as many businesses transitioned to working remotely.
At the end of the financial year, Urbanise had $4.5 million in the bank – a 22.8 per cent increase from FY19. The company ended the period with no material debt.
Urbanise.com last traded for 8.8 cents on October 20.
