Prescriptive analytics company lists on ASX
Prescriptive analytics software company Veriluma Limited commenced trading on the ASX on Tuesday following a $3.5 million capital raising.
NSW-based Veriluma is trading under the ticker code VRI, and the company’s shares were trading at $0.094 as of around 2 pm on Wednesday — up from a debut price of $0.07 per share.
The company’s $3.5 million capital raising, conducted as part of the reverse takeover of listed Perth-based company Parmelia Resources, gave Veriluma a pre-trading market capitalisation of $25.137 million.
Veriluma’s prescriptive analytics software was developed by a Commonwealth Research Centre for the Australian Defence Intelligence Organisation. The defence sector uses the technology to help make rapid but accurate assessments of potential terrorist and national security threats.
Prescriptive analytics is designed to provide assessments about future outcomes and deliver a preferred course of action for dealing with these outcomes.
Besides defence, Veriluma’s software has wide applications across a range of industries, including finance, government, insurance, legal, health, pharmaceutical and resources.
The total prescriptive analytics software market will grow at a CAGR of 22% over the next three years to reach $1.1 billion, according to Gartner, and Veriluma aims to get in at the ground floor. Gartner also projects that the number of organisations making use of prescriptive analytics will grow from 10% today to 35% by 2020.
“Veriluma’s listing on the ASX is a significant milestone for the company and recognition of our innovative and unique prescriptive analytics software,” Veriluma CEO Elizabeth Whitelock said.
“We look forward to capitalising on this achievement by delivering shareholder value as a listed company.”
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