Janison Education Group hires Bell Potter for ASX listing
With the increasing focus on Australia's education standards falling behind global peers particularly in maths and science, perhaps this is a sharemarket float with the right timing.
Street Talk can reveal stockbroker Bell Potter Securities has been hired to raise funds for learning and digital assessment group Janison Education.
Janison is seeking to join the ASX boards following a reverse takeover by listed shell HJB Corporation last month.
As part of the deal, Janison needs to pursue an equity raising which would see the company end up trading with about a $40 million market
capitalisation.
The SaaS technology business provides bespoke corporate learning systems to some of Australia's largest companies and has also developed national digital exam testing platforms for countries such as Australia and Singapore.
Janison will tell potential investors that it is profitable and has been growing revenues at circa 35 per cent a year to be making close to $20 million this year.
Its pitch is expected to revolve around servicing corporates that need to rev up their training in a fast-changing world and need to do it in a very efficient way.
But Janison - which it should be noted is heavily technology-based and not reliant on government funding - will also need to overcome some of the scepticism about the listed education sector and the large amount of shareholder funds blown up in vocational education by the likes of Vocation and Intueri.
Janison will be chaired by Bombora's Mike Hill and will have Brett Chenoweth, the former boss of APN News & Media and current director of Canberra Data Centres and Yellow Pages NZ, on its board.
David Willington of Mannagum Capital advised Janison founder, Wayne Houlden, and chief executive Tom Richardson.
Willington will also take up a board seat.
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