How is Amaysim so cheap
Successful IPO of VCDE portfolio company amaysim Australia
Frankfurt, July 15, 2015 - With the portfolio company's successful IPO amaysim Australia Pty Ltd on the Sydney stock exchange (ISIN: AU000000AYS5 / ticker: AYS.ASX), VCDE Venture Partners has realized a profitable partial sale of its portfolio with its investment vehicle venturecapital.de.
The virtual cellular network operator (MVNO), which launched in November 2010 to successfully establish the business model that is extremely popular in Europe in the Australian cellular market, has been traded on the Australian Stock Exchange (ASX) in Sydney since today. With a clear, customer-oriented positioning as well as a transparent and attractive tariff structure, the German founding team around entrepreneur Rolf Hansen has succeeded in positioning amaysim Australia as the challenger in the Australian mobile communications market. By gradually expanding the portfolio, amaysim Australia is now addressing all relevant customer segments and was able to increase the customer base to around 693,000 users (March 2015) in the 2015 financial year (FY15) at the end of June 30, 2015. The sales forecast for the recently started financial year (FY16) is AUD 263.6m (FY15e AUD 213.1m), with a forecast EBITDA of AUD 31.7m (FY 15e AUD 15.9m).
In a sometimes difficult market environment, which was influenced, among other things, by the tense situation in Europe, the planned volume was successfully placed at a price of AUD 1.80 per share. venturecapital.de has acquired over 14 million shares (after a 1: 145 split) through a total of four capital measures, most recently as part of a secondary transaction, and realized almost 50% of the position as part of the IPO, resulting in gross proceeds of around AUD 13 million leads. The remaining share is used to support the company's organic growth, including possible M&A activities that could aim at taking over amaysim Australia.
Together with co-founders Peter O'Connell, Thomas S. Enge, Christian Magel and Andreas Perreiter, Rolf Hansen has impressively demonstrated that their concept of simplicity, transparency and customer orientation, which already spanned the success formula of the simyo company founded by Rolf Hansen in 2005, can also be successfully applied to overseas markets. We would like to thank the founding team for 5 years of trusting cooperation and wish Chairman Andrew Reitzer and the incumbent management, especially Julian Ogrin (CEO) and Leanne Wolski (CFO), continued success and good luck with the now listed company.
About amaysim (www.amaysim.com.au)
amaysim was founded in November 2010 by the German entrepreneurs Rolf Hansen, Christian Magel, Thomas Enge and Andreas Perreiter as well as the Australian Peter O‘Connell and is Australia's first virtual low-cost mobile operator (MVNO). Since its foundation, the company has committed itself to the philosophy of guaranteeing its customers simplicity, fairness and low prices. Amaysim's offerings are distributed via the Internet and nationwide dealers, and offer high quality connections via the Optus Mobile network.
About VCDE Venture Partners (www.venturecapital.de)
VCDE Venture Partners is a leading venture capital investor with a focus on technology companies in the areas of software, mobile, Internet of Things and entertainment. The main goal is to build and develop successful growth companies. VCDE Venture Partners is looking for companies that have already provided the “proof of concept” with their business model and that serve highly scalable markets with their products. VCDE offers its holdings access to a unique investor network of over 150 technology entrepreneurs who make an active contribution to the development of the company with their know-how and experience.
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