{"id":11375,"date":"2018-11-08T19:20:46","date_gmt":"2018-11-08T19:20:46","guid":{"rendered":"https:\/\/economicherald.net\/?p=11375"},"modified":"2018-11-08T19:20:46","modified_gmt":"2018-11-08T19:20:46","slug":"ipo-watch-tymlez-hopes-the-aussie-blockchain-party-isnt-over","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=11375","title":{"rendered":"IPO Watch: Tymlez hopes the Aussie blockchain party isn\u2019t over"},"content":{"rendered":"

Is the word \u2018blockchain\u2019 still able to pull an investment crowd?<\/p>\n

A Dutch company is about to find out as it launches a $31 million IPO in Australia this month.<\/p>\n

Tymlez (ASX:TYM) offers a platform that allows companies to build and integrate blockchain-based\u00a0technologies into existing IT environments.<\/p>\n

Blockchain is best known as the basis of cryptocurrency transactions but it\u2019s increasingly used in other ways such as verifying supply chain data, payments and digital contracts.<\/span><\/p>\n

The theme spiked in November<\/a> last year as cryptocurrency Bitcoin headed towards a peak of almost $US20,000 a coin in early December.<\/p>\n

A range of ASX-listed companies scrambled to benefit from the excitement, by either claiming they were looking at moving into the space or actually jumping on the train<\/a>.<\/p>\n

There have been recent successful blockchain floats such as Identitii (ASX:ID8)<\/a> and Security Matters (ASX:SMX)<\/a>.<\/p>\n

But other ventures have struggled.\u00a0Genetic Technologies (ASX:GTG) is still not a blockchain health data company<\/a>, Chapmans (ASX:CHP) recently sold some of its stake in a Canadian cryptocurrency miner, and DigitalX (ASX:DCC) has faced angry shareholders<\/a>.<\/p>\n

Turning a corner<\/strong><\/p>\n

Tymlez plans to raise $5 million to $8 million for product development and marketing as it seeks to grow in the Asia-Pacific region and the US.<\/p>\n

Founders Michael Reh and Reinier Van Der Drift will own 46 per cent after the IPO, via a holding company called Tyhold.<\/p>\n

Revenue was flat in 2018 at just under $300,000.<\/p>\n

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The company was founded in April 2016 so only two full financial year\u2019s worth of financial data is available.<\/p>\n

The company made a $1.5m loss in fiscal 2018, up over 3000 per cent because expenses grew as they added offices in the US and Germany.<\/p>\n

At the end of June, Tymlez had $661,598 cash in the bank.<\/p>\n

The offer closes on November 23 and the stock is expected to list on the ASX from December 7.<\/p>\n

The post IPO Watch: Tymlez hopes the Aussie blockchain party isn\u2019t over<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Is the word \u2018blockchain\u2019 still able to pull an investment crowd? A Dutch company is about to find out as it launches a $31 million [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":11376,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-11375","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nIPO Watch: Tymlez hopes the Aussie blockchain party isn\u2019t over - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=11375\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IPO Watch: Tymlez hopes the Aussie blockchain party isn\u2019t over - Economic Herald\" \/>\n<meta property=\"og:description\" content=\"Is the word \u2018blockchain\u2019 still able to pull an investment crowd? 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