Online DVD borrowing and delivery service Quickflix has extended its initial public offering by two weeks after falling short of its $3 million target and the 400 shareholders it needs to list on the Australian Stock Exchange.
The offer for 15 million shares at 20c opened on April 14 and was meant to close yesterday.
"It's a small clean-up that we really need to do now," said Perth- based executive director Stephen Langsford. "The bulk of the capital raising and a number of shareholders have come on board, so we're really just closing it out."
He said Quickflix had commitments for almost half the target amount before it launched the float and was confident the rest would come within a fortnight. "We're within sight of the last few hundred thousand dollars."