The GO2 People Ltd lists on ASX
The GO2 People Ltd has completed its initial public offering and will began trading on the Australian Securities Exchange (ASX) today at 10.30am.
Founded in 2011 by Billy Ferreira and Paul Goldfinch, The GO2 People is a provider of vertically integrated recruitment, labour hire and building services to industry throughout Australia. Focusing predominately on major infrastructure in the construction and mining sectors, The GO2 People have provided workforce solutions to major projects around Australia. The GO2 People also operate a building division focusing on rapid building methodology to deliver residential dwellings, with a specialisation in the Over 55’s and Affordable housing sectors.
The GO2 People Ltd is chaired by Darren Cooper. Cooper brings a wealth of experience, in senior executive roles and board positions, to the Company.
The GO2 People Ltd IPO saw a total of 50,000,000 new shares issued at a price of $0.20 per share to raise $10m. Pre-existing shareholders including co-founders, Billy Ferreira (pictured left) and Paul Goldfinch (pictured right), have entered into voluntary escrow agreements for a minimum period of two years, and the two independent directors have purchased shares in the IPO.
The IPO will allow The GO2 People to fast track its growth by increasing its level of working capital and its geographical presence to take advantage of the national infrastructure boom currently underway. In addition, the company will further develop its rapid build capability and seek to partner with national land developers to deliver high quality housing, initially in the over 55s and affordable housing sectors. With a solid pipeline of opportunities across both divisions, the Company aims to provide a strong news flow to the market.
Ferreira stated, “We are very pleased to have completed the IPO and look forward to focusing all of our efforts on ensuring The GO2 People reaches its vast potential. Listing provides the Company with capital to execute our strategic plan and, in doing so, increases our capability to offer a premium service to our clients.”
Independent non-executive chairman, Darren Cooper, added, “On behalf of my fellow directors, I welcome all new shareholders to The GO2 People and look forward to offering them transparent and regular communication on our journey. The Company’s goals to date have been centred around market share and business growth. Whilst we recognise the need for continued growth in these areas, the next phase of the Company’s development also involves a focus on increasing profit margins and a stronger financial base. The funds provided under this offer will help accelerate and facilitate this focus. “
Goldfinch declared, “The listing represents a significant milestone in our short company history, however we see this as the start line and are completely focused on the next phase of our growth. We acknowledge the responsibility of being a public company and welcome the exciting times ahead for the company.”