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Moore Australia client debuts on the NSX with $4.2m IPO

Moore Australia client debuts on the NSX with $4.2m IPO

Moore Australia

Congratulations to our client Smart Auto Australia Limited for making its debut on the National Stock Exchange in Sydney yesterday.

“We are thrilled for Smart Auto Australia, and their NSX listing yesterday”, says Moore Australia (WA) Managing Partner,
David Tomasi.

“Smart Auto’s technology to convert existing diesel buses to electric holds enormous potential for the Australian market to reduce its carbon footprint in the transportation sector. Their Initial Public Offering (IPO) provides a perfect platform to launch their future growth and I look forward to seeing where that leads”, says David.

Moore Australia (WA) Audit and Assurance Partner, Neil Pace said with Smart Auto’s future focus set on growing their business globally, it was a pleasure making that a reality with their expansion to Australia.

“It has been great working with Smart Auto over the past couple of months and collaborating with our Moore Global Hong Kong colleagues in preparing the Investigating Accountants Report for the initial IPO and NSX listing. I look forward to what the future holds for Smart Auto as they position themselves as a market leader in green transport and logistics in Australia”, says Neil.

Smart Auto Australia’s IPO raised $4.2m at an issue price of $0.10 per share.

About Smart Auto Australia
Founded in 2010 and headquartered in Hong Kong, Smart Auto was the first company in Hong Kong to provide light buses/coaches rental and management services.

The Hong Kong based bus company operates a successful and proven business model (currently and predominantly in Hong Kong through GTB) comprising conventional bus rental and management services and bus trading. Using their existing business model, Smart Auto Australia plans on growing their business by expending into the Australian, Indonesia, Papua New Guinea and New Zealand markets.