Wilson, Regal double down on Butn as debut is set for next week
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Butnâs pre-IPO backers Wilson Asset Management and Regal Funds Management have joined MYOB in doubling down on their pre-IPO investments in the lending fintech.
The business had been due to start trading on the ASX this week, but decided to push back its listing date to Tuesday July 6.
Rael Ross and Walter Rapprt co-founded Butn and are now listing the business on Tuesday.Â
Eamon Gallagher
The company will come to market with an $80 million market capitalisation, having raised $20 million at 50¢ per share.
Rather than selling its services directly, it works with partners who add the âButnâ button to their own platforms and online marketplaces. It counts the likes of freight platform Ofload, online wine marketplace Winescape and fintech lenders including Lend.com.au as clients.