Australian (ASX) Stock Market Forum

BTN - BUTN Limited

Dona Ferentes

Abrió la caja, vio al gatito, y sonrió
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BUTN Limited (BTN) has raised $20million at 50c a share and listed on the ASX, opening at 55c and now trading around 52c.

Describing itself as BNPL for business, Butn states it is reinventing the way cashflow works in business with simple, secure and instant finance solutions for every business need.

Listing date... 06 July 2021 11:30AM AEST ##

Contact details .... https://butn.co/

Principal Activities ... The Butn fintech solution provides an end to end transaction financing solution that integrates with existing marketplaces and third party platforms to offer financing for business to business transactions. It enables an efficient customer establishment process, fast tracking and automating the numerous steps for credit approval.

Issue Price ... $0.50
Issue Type ... Ordinary Fully Paid Shares
Security code ... BTN

Capital to be Raised ... $20,000,000
Expected offer close date ... 09 June 2021

Underwriter... Fully underwritten. Canaccord Genuity (Australia) Limited. (Underwriter and Lead manager)
 
Butn Limited (BTN) describes itself as
... a founder-led Australian B2B funder innovating the way SMEs fund and grow their businesses. Butn focuses on funding SME businesses through their working capital constraints by financing individual transactions, leveraging the end debtor's credit. This approach has resonated with SMEs as an efficient way to access capital.
While that is all good to know, perhaps their approach has also resonated with early shareholders as an efficient way to destroy investor capital; perhaps they may be wishing to claim a capital loss before 30 June?

An inglorious slide since July IPO at 50c to be trading around 18c only 10 months later.
 
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