Ovanti Seeks $2.293 Million via 1-for-1 Entitlement Offer at 0.2 Cents

Entitlement Offer Details and Capital Raise

Ovanti Limited (ASX:OVT) has officially opened a non-renounceable entitlement offer, inviting eligible shareholders to subscribe for one new share for every existing share held as of 19 August 2026. Priced at 0.2 cents per share, the offer aims to raise approximately AUD 2.293 million before costs. The offer closes on 1 September 2026, with shares to be issued on 4 September and expected to commence normal trading on 7 September.

The entitlement offer is not underwritten and is being managed by Clee Capital Pty Ltd. It includes a top-up facility allowing shareholders who fully subscribe to their entitlement to apply for additional shares not taken up by others, subject to availability and regulatory limits. The issue of new shares will dilute holdings of shareholders who do not participate, including ineligible shareholders based outside Australia, New Zealand, and Malaysia.

Use of Funds and Company Focus

Funds raised from the entitlement offer are earmarked to cover the costs associated with the offer itself, including ASX fees and legal expenses, as well as to bolster working capital and general corporate purposes. Ovanti’s core business involves fintech and digital commerce software solutions, servicing institutional clients primarily in Malaysia and Indonesia, with a focus on mobile banking, digital payments, and over-the-top mobile services.

The company is also expanding its fintech offerings globally, including buy now, pay later (BNPL) services as part of its Super App platform. However, Ovanti faces significant risks related to regulatory changes, competition, and operational challenges in multiple jurisdictions.

Offer Mechanics and Shareholder Participation

Eligible shareholders with registered addresses in Australia, New Zealand, and Malaysia as of the record date are invited to participate. The offer is non-renounceable, meaning entitlements cannot be traded or transferred. Shareholders can accept all or part of their entitlement, or apply for additional shares through the top-up facility if they fully subscribe.

Payment can be made via BPAY for Australian shareholders or electronic funds transfer for New Zealand and Malaysian shareholders. The offer booklet and personalised acceptance forms have been dispatched electronically, with comprehensive instructions provided. The company advises shareholders to seek independent advice before participating.

Risks and Regulatory Considerations

Ovanti’s offer booklet outlines numerous risks, including the need for future capital, share price volatility, regulatory scrutiny in fintech and BNPL sectors, technology platform risks, and customer concentration. The company also highlights risks related to its expansion into the US market, competition from larger players, and foreign currency exposure given its significant Malaysian operations.

Investors are cautioned that the offer is made under section 708AA of the Corporations Act without a prospectus, and that the company disclaims any guarantee of future performance or return on investment. The company also notes that ineligible shareholders will not participate and their holdings will be diluted accordingly.