Emerging fintech Marketech Online Trading has been appointed joint lead manager with Blue Ocean Equities for an upcoming Initial Public Offering (IPO) in a further step towards its vision of reinventing the role of online broking in delivering a fully professional solution to all investors.
While most disrupters in the online broking space have been focused on delivering cheaper trades, Marketech CEO Travis Clark takes a contrarian view, with Marketech focusing on a “race to the better” rather than a “race to the bottom”.
Marketech is using technology and partnerships to bring professional-grade trading tools into the hands over everyday investors at a competitive cost. It operates on an individual’s HIN, offers live ASX pricing and all cash is kept in an individual’s own trading account. It has also developed partnerships with Sharesight for portfolio administration, Marcus Today for news and insights, and opened access to additional exchanges including the National Stock Exchange (NSX) and Chi-X Australia.
“We are very much differentiated in the market. We are not aiming to be the lowest cost, rather we are looking to deliver real value add to investors,” Mr Clark said.
“In an environment where traditional stockbroking and financial advice models are being challenged at every turn, we are presenting investors a virtual full-service broking option with a non-conflicted professional-grade product.”
NiCo Resources a unique opportunity
Marketech was appointed joint lead manager to raise up to $12 million for the Metals-X spin out of NiCo Resources Limited.
NiCo Resources portfolio includes both the Wingellina nickel-cobalt project in Western Australia and the Claude Hills project in South Australia.
Wingellina is one of the biggest nickel-colbalt projects in Australia. A feasibility study by Metals X placed a multi-billion value over a 40 year mine life, compared to the expected enterprise value of NiCo Resources of $10 to $15m upon listing.
The IPO also comes at a time when there are high prices for each of these commodities and strong investor demand for battery metals.
NiCo Resources plans to raise the $12 million at $0.20 per share. With Metals X committing to invest $4 million as a cornerstone shareholder, and strong demand from a number of influential investors, the stock is expected to be strongly over-subscribed.
This makes Marketech’s involvement unique, with its priority retail offer exclusive for its online broking clients likely to be the only way in for individual investors to access the IPO.
The retail offer closes on 17th December 2021 with the company expected to list under the ticker symbol NC1 on 11th January 2022.
“Capital raisings are the natural progression for us to offer unique and bespoke services for our clients and prove that an online broker can be good and cheap, not just one or the other,” Mr Clark said.
“NiCo Resources is an exciting prospect and we wanted to show our clients we’re serious and capable on getting them unique investment opportunities.”