Brisbane IT player SOCO to raise $5m after rapid growth
Brisbane-based IT company SOCO has opened a $5 million capital raising and ASX listing at 20 cents a share.
The sharemarket is moving steadily towards a 12-month high (file photo)
SOCO, which is focused on the Government sector and large corporates, was kicked off in 2013. Chief executive Simon Forth said it had experienced year on year growth since then.
It has achieved 61 per cent revenue growth in the past three years and has forecast revenue of $18.5 million for 2023.
“Buoyed by the positive outlook for IT services and digital solutions, the ASX listing in the coming weeks will support our continued organic growth, provide transparency and liquidity for acquisition targets that align with our strong culture and values, as well as new technical expertise and increased geographic expansion across Australia,” he said.
The company is chaired by Tom Stianos and was founded by Sebastian Rizzo and Carlo Liviani, who remain on the board.
