Freelancer closes IPO offers

Australian job marketplace outfit, Freelancer.com, has officially stopped taking offers for its IPO and is set to list on the Australian Stock Exchange next week.  

A spokeswomen for Freelancer said the company saw “overwhelming demand” for its offer and that the stock was oversubscribed after the first week. Offers for the company started on October 21 and was originally set to close November 15.

The company expects to list on the ASX on November 15.

The spokeswomen said demand for the stock came from “retail, sophisticated and institutional investors.”

Earlier, Sydney-based investment fund, Caledonia Investments was named as by Freelancer.com as a "cornerstone" in its IPO.

The company only placed 6.9% of its overall shares on the market with the aim of raising $15 million to boost its overseas expansion plans.

Freelancer.com’s founder, Matt Barrie, will retain the lion’s share of the company’s stock, holding a 46% stake in the firm.