DeClout launches Catalist IPO at 25 cents apiece
DeClout, a provider of next generation technology services offering a full suite of information and communications technology solutions, will issue 31 million new shares, at 25 cents each, in its initial public offering (IPO).
The group will be one of the first games cloud providers to be listed on Catalist.
The IPO is expected to raise gross proceeds of $7.75 million, which will be used largely to launch DeClout's first vertical domain cloud (VDC) - the games cloud.
The remaining proceeds will fund the expansion of the group's IT infrastructure services business and general working capital requirements.