The mobile payment terminal supplier booked $5.8m from its IPO and is now lining up an acquisition to expand its business.
Cashlez, an Indonesia-based digital payment technology provider backed by corporates Sumitomo and Bank Mandiri, has completed a R87.5bn ($5.8m) initial public offering on the Indonesia Stock Exchange, DealStreetAsia reported yesterday.
The amount fell short of Cashlez’s $7.3m projection although its share price did climb from $0.023 to $0.025 within four minutes of trading.
Founded in 2015, Cashlez supplies Bluetooth-equipped card payment terminals that let merchants process customer transactions via a mobile app.
The terminals also support digital payment methods…
