Freelancer IPO may close early
- {{x.value}}
{{ twilioFailed ? 'SMS Code Failed to Send…' : 'Enter verification code' }}
{{ completedStep1 ? 'Authentication & Security' : content.trialHeading.replace('{0}', user.FirstName) }}
{{ content.upgradeHeading.replace('{0}', user.FirstName) }}
The email address you entered is registered with InvestSMART
Please login to continue
We have sent you an email with the details of your registration.
Looks you are already a member. Please enter your password to proceed
{{ upgradeCTAText }}
Updating information
Please wait ...
Your membership to InvestSMART Group recently failed to renew.
Please make sure your payment details are up to date to continue your membership.
Having trouble renewing?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
You've recently updated your payment details.
It may take a few minutes to update your subscription details, during this time you will not be able to view locked content.
If you are still having trouble viewing content after 10 minutes, try logging out of your account and logging back in.
Still having trouble viewing content?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
Please click on the ACTIVATE button to activate your Intelligent Investor 15-day free trial
Please click on the ACTIVATE button to finalise your membership
Unsuccessful registration
Registration for this event is available only to Eureka Report members. View our membership page for more information.
Registration for this event is available only to Intelligent Investor members. View our membership page for more information.
- You are already registered for this event.
- This event is already full.
- Please select a quantity for at least one ticket.
- {{ i }}
Forgotten password
Please enter your email address below to request a new password
- Verify your email address by clicking on the link we sent to {{user.Email}}
- You now have free access, we look forward to helping you on your financial journey.
Freelancer, the owner and operator of the world’s largest market place for outsourcing, may close its initial public offering early because global demand for shares has overwhelmed the supply of 30 million shares offered.
Global technology investors, fund managers, company management teams and individuals have demanded more shares than offered by Freelancer and its underwriter KTM Capital. That will force the company to return money to unlucky subscribers who have wanted to buy the stock offered at 50 cents a share.
Applications for Freelancer shares began last Tuesday. Applications for the shares, priced at 463 times forecast 2013 earnings, was scheduled to end November 7.
“I’ve got huge allocation problems because of a huge flood of money,” Freelancer chief executive Matt Barrie told DataRoom. “I want investors who are committed to buy more stock, hold it for a long time and are willing to buy more.”
Freelancer since its 2009 founding has had 9 million users from 247 countries, territories and regions who have worked on 4.9 million projects representing $1.2 billion of work. The company has 300 staff around the world.
There have been 82 million visits, by projects and users, to the company’s web site in the last 12 months.
The company’s 2013 net profit is forecast to be $471,000 on revenue of $18.3 million.
Freelancer will have 436 million total shares following the IPO that will give the company a market value of $218 million.
Call 1300 880 160
Start a chat
Schedule a call
