24th February 2016
OnMarket BookBuilds (OMB), the creator of the world’s first online portal giving investors free and fair access to IPOs and equity placements, has teamed up with WYZA, a digital publishing firm that connects people 50+ directly with the products, services and information they want, including finance and equity investments.
Chief executive of OMB, Ben Bucknell, said the company’s agreement with WYZA would also allow WYZA’s subscribers to take advantage of OnMarket, which democratises access to capital raisings by making IPOs directly available to Australian retail investors.
“In the past, information about IPOs or placements has been available only to a select group of institutional investors. OnMarket, working with WYZA, is disrupting the traditional approach by providing regular independent information to WYZA users about the share market. We will offer WYZA’s audience of potential investors the opportunity to build wealth by investing directly in Australian IPOs or placements.
“In fact, if you had bought and held stock in every one of 14 capital raisings offered by an OnMarket technology since 2013, you would have made a 25 per cent return on your investment as at the end of January. We want to give all Australian investors access to capital raisings that were not available to them before. This is, essentially, a wealth building opportunity,” Bucknell said.
Chief executive of WYZA, Mike Farley said: “The 50+ demographic is one of the largest investor groups in Australia. People in this group want to manage their own investments, as the growth of self-managed superannuation funds (SMSF) shows.
“By working with OMB, we are enabling people 50+ to be better informed about their finances and to take advantage of potentially attractive IPOs and equity placements and offer investors exposure to a diverse range of companies helping to power the Australian economy.”
WYZA has 130,000 subscribers and about 450,000 unique users, growing at about 20 per cent month-on-month.
Since its launch in October last year, the OnMarket platform has helped nine companies with their IPOs which have raised over $110 million. OnMarket investors have had access to all of those IPOs.
OMB’s presence as a fintech disruptor was firmly established when the technology was launched by Prime Minister Malcolm Turnbull in October 2015, who said at the time: “The brilliance of this is simply that it makes it easier to buy, to trade. This will open up the investment market considerably.”
OnMarket collates research on a deal by deal basis from over 10 independent Australian research houses, including company, sector, macroeconomic and competitor research and analysis.
“Most importantly, we are opening up access to IPOs and giving everyone fair access. If applications to participate are scaled back, every investor is treated equally. To date, most retail investors have largely been denied access to IPOs. Even when retail investors have been able to participate, allocations have been significantly scaled back. For example, in the Medibank IPO for bids over $14,000, retail investors were given just $0.05 of every $1 they asked for above their initial $7,150 allocation, while the institutional scale-back was never disclosed,” Bucknell said.
“OnMarket is completely free to investors: it’s free to sign up and free to bid and invest. All of this can be done with a smart phone, which meets the key trend of investors accessing information and managing their finances on their phones,” he said.
The 50+ market includes many investors with SMSFs. As at September 2015, more than 1 million SMSF members held more than $575 billion dollars of assets under management. “OnMarket offers these investors the opportunity to diversify their portfolios beyond the big banks and miners to which they are heavily exposed,” he said.
About On-Market BookBuilds (OMB)
OnMarket BookBuilds’ mission is to empower investors and companies through innovation in financial technology. OMB believes that investors and companies benefit when capital raisings are conducted fairly, transparently, and efficiently.
OMB is emerging as a leader in Australian fintech. OMB conceived, developed, and patented intellectual property which it licensed in Australia to ASX to build the ASX BookBuild facility – the world’s first exchange-hosted capital raising platform. The ASX BookBuild facility is a tool for companies and their lead managers to combine control over pricing and allocations with the all-of-market reach of ASX.
OMB has also been acknowledged internationally. The UK Lord Myners Review, which was commissioned following the UK Government’s IPO of Royal Mail, ‘strongly recommended’ the ASX BookBuild facility to business leaders and for into future government privatisations. The United States Securities and Investments Commission (SEC) has published a no-action letter confirming foreign private issuers may rely on the ASX Bookbuild rules to meet their compliance with the US Securities Act Rules. More recently, OMB was invited by UK Trade & Investment to London FinTech Week, in September 2015, the world’s largest fintech event.
The new OnMarket online investment portal is a wholly-owned and operated initiative of OMB. OnMarket is not a joint venture with ASX and is independent of OMB’s association with ASX in relation to the ASX BookBuild facility.
WYZA is Australia’s fastest growing digital platform created specifically for people 50+. WYZA is disrupting the $200 billion spending patterns of the powerful 50+ demographic by connecting them directly with the products, services and information they want.
The WYZA supersite with full mobile responsiveness serves as a comprehensive resource – ‘a one-stop shop’ – delivering curated content, interactive services and social networks to Australia’s fastest-growing demographic online; people 50+.
Every month a staggering 5.1 million 50+ Australians are online and WYZA, with over 130,000 members and more than 1 million page views each month, brings them highly targeted and engaging information about health, wealth, travel, property, living well and ageing.
WYZA – a little older and a lot WYZA.