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KYK

KYCKR Limited Announces WiseTech CEO $5.2m Placement

Jordan Baird

Jordan Baird is the head ASR Wealth Advisers client services desk and has been with the organisation since 2017. He first started investing in his early years. While he believes that investors should leave no stone unturned he has a particular interest in trading based on broad macroeconomic trends along with specific analysis of innovative up-and-coming companies.

KYCKR Limited (ASX: KYK) is a regulatory technology and data company that provides solutions to firms regarding regulatory procedures through the provision of globally connected intelligence, KYK facilitates business through their connections to over 200 company registries across 120 countries. KYK uniquely provides instant access to a range of global business registries ensuring that the information provided to their clients is up to date and reliable. The Company has seen an expansion in demand for their services as the post-GFC financial world demands increased levels of compliance obligations to manage laws pertaining to Anti Money Laundering (AML), Counter Terrorist Financing (CTF) and Foreign Accounting Tax Compliant Act (FACTA).

kyckr - report-1

Why did the share price of KYK jump 10 cents earlier this week?

KYCKR Limited (ASK: KYK) announced on the 23rd of September a new agreement that will enable data registry firm Illion to sell access to KYK’s global-business registry, this will provide the firm access to an expanded market and allow KYK to leverage Illion’s industry experience. This partnership will also allow KYK to expand its developing web platform that provides enhanced customer verification functions in order to improve the customer experience.

What does the future hold for KYK?

KYCKR Limited (ASX:KYK) have also announced earlier in September a $5.2m placement from technology entrepreneur Richard White to secure a 19.6% stake in the firm. Richard White is the founder and CEO of Australian tech company WiseTech Global Limited, a provider of software solutions to the logistics industry. Richard White has said he sees:

KYK as having the potential to develop a specific product that can be leveraged and accelerated to a major advantage.

Mr White has also said that:Richard White’s investment in the firm brings experience that KYK require in order to establish its business model. Additionally, the $5.2m capital raised from his placement will aid the firm in commercialising its product in order to expand its revenue base.

 


 

Disclaimer:

This article has been prepared by the Australian Stock Report Pty Ltd (AFSL: 301 682. ABN: 94 106 863 978)

(“ASR”). ASR is part of Amalgamated Australian Investment Group Limited (AAIG) (ABN: 81 140 208 288 Level 13, 130 Pitt Street, Sydney NSW 2000).

This article is provided for informational purpose only and does not purport to contain all matters relevant to any particular investment or financial instrument. Any market commentary in this communication is not intended to constitute “research” as defined by applicable regulations. Whilst information published on or accessed via this website is believed to be reliable, as far as permitted by law we make no representations as to its ongoing availability, accuracy or completeness. Any quotes or prices used herein are current at the time of preparation. This document and its contents are proprietary information and products of our firm and may not be reproduced or otherwise disseminated in whole or in part without our written consent unless required to by judicial or administrative proceeding. The ultimate decision to proceed with any transaction rests solely with you. We are not acting as your advisor in relation to any information contained herein. Any projections are estimates only and may not be realised in the future.

ASR has no position in any of the stocks mentioned.

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