Thomson Geer advised Australian company IOU Pay on its debut onto the ASX.

Thomson Geer advised Australian company IOU Pay, on its debut onto the ASX. Thomson Geer advised on the transaction documentation and ASX Listing Rule implications of the transaction including in relation to ASX Listing Rule Chapter 11 (a Chapter 11 submission was required).

IOUpay Limited (ASX:IOU) provides fintech and digital commerce software solutions and services that enable its institutional customers to securely authenticate end-user customers and process banking, purchase and payment transactions.

The Company’s core technology platform enables large customer communities to connect to end user customers using any mobile device and integrate mobile technology throughout their existing business and customer product offerings. The Company’s business divisions consist of Mobile Banking and Digital Payments (including BNPL) which service leading banks in Malaysia and large telcos and corporates in Malaysia & Indonesia. IOUpay also works with telecommunication network providers to provided mobile OTT (over-the-top) services that leverage their subscriber base to build active communities.

The transaction is valued at AUD$42m.

The Thomson Geer team included partners Tim Flahvin and Venkatesh Ananthakrishnan.