Covata (ASX:CVT) has begun trading on the ASX after raising $15 million at an offer price per share of A$0.20 per share.
At this price it would provide a $74 million market cap for the data security company. The company listed after completing a reverse takeover of uranium explorer Prime Minerals.
The company enjoyed strong support from new institutional and high net worth investors which is tapping into the global growth from costs of securing data assets from hackers.
The company uses identification and time sensitive encryption keys as a part of its platform.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.