Download the Prospectus
Pre Money Equity Valuation
$29,345,193
Min Raise
$9,000,000
Max Raise
$9,000,000
Estimated Close
2021-05-24
Issue Type
IPO
Lead Manager
Euroz Hartleys Ltd
Type of Securities
Shares
Date First Lodged
10/05/2021
Offer Costs $
$1,623,000
Market Cap Max
$38,345,193
Key Executives
Wayne Zekulich (NEC), Peter Gibbons (MD), Duncan Anderson (ED), Darren Bromley (ED), Danielle Lee (NED)
Company Address
38 Station Street Subiaco, Western Australia 6008
Exchange
ASX
Chairman's Letter

Dear Investor,
On behalf of the directors of Openn Negotiation Limited (“Openn”),
it is my pleasure to invite you to become a shareholder in Openn.
Openn is an Australian property technology (or “proptech”) company
combining the ease of private treaty real estate sales and the transparency of
auction, with cutting edge technology, providing the best possible property
sales outcomes for the seller, the buyer and the real estate agent.
Founded in 2016 by a group of experienced property professionals, Openn
has solved some fundamental issues of traditional real estate sales methods,
that often resulted in sub-optimal outcomes due to a lack of transparency.
The Openn platform facilitates a real-time, online bidding process to achieve the market value for a
property, through competitive price tension. The platform aims to build trust between the agent and buyer
and ensures price maximisation for the seller.
With approximately 55,000 registered users across Australia, over 3,300 agents adopting the technology
and approximately $2 billion of property sales so far, the Openn platform is being recognised as an industry
enabler, delivering a flexible and transparent transaction alternative.
In addition to its transaction capability, our platform captures unique, real time data that has the potential to
provide lead indicators for the property market. This data could add value to the property sector especially
as the industry is experiencing an increase in buyer demand and competitiveness.
A successful IPO and listing on the ASX will provide Openn with the funds to facilitate our expansion in the
Australian and New Zealand market, and also to assess the USA market. Branching into the USA aligns with
Openn’s long-term vision and growth strategy.
The offer under this prospectus is seeking to raise AU$9,000,000 via the issue of 45,000,000 shares at an
issue price of $0.20 per share. The offer is fully underwritten by the lead manager, Euroz Hartleys Limited,
on a conditional basis.
This prospectus contains detailed information about the offer and the current and proposed operations of
Openn, as well as the risks pertaining to an investment in Openn.
We encourage you to read this prospectus in its entirety to gain a full understanding of our operations
before making an investment decision.
On behalf of the board and Openn team, I look forward to welcoming you as a shareholder and sharing what
we believe to be an exciting time ahead for the company.
Yours sincerely,
Wayne Zekulich
Non-Executive Chairperson