The National Stock Exchange of Australia (ASX: NSX) has completed a $3.5 million capital raise today, with nearly a third of the funds coming from outgoing interim CEO John Karantzis’ iSignthis (ASX: ISX).
The funds will be used for working capital, and for finalising upgrades to the exchange’s NASDAQ-modelled trading engine as well as corporate IT systems.
In addition, the NSX will deploy some of the funds to commence a search for, and appoint, a new CEO to manage the growing exchange business
Current interim CEO John Karantzis, also the founder of iSignthis which contributed $1 million to the placement, will be stepping down from his role at the exchange to focus on growing his payments service provider.
“The company is delighted with the support from existing and new shareholders,” Karantzis said.
“The result ensures that the company will be able to continue with its strategy and business initiatives.”
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