The Australian – Business Review: Message Media, Soprano Design cautious about floating

Message Media and Soprano Design are continuing to take a cautious approach towards listing on the Australian Securities Exchange.

Both companies placed their float plans on hold last year following the election of Donald Trump as US president, fearing that the markets would become too volatile for the deals to successfully proceed.

Apparently the plans remain on hold and are subject to trading conditions in the months ahead.

Soprano is a Sydney-based mobile messaging software solutions provider for enterprises and governments, and has been advised by Blackpeak Capital and UBS.

It counts Telstra, Vodafone, National Australia Bank, Accor, Transurban, Visa and Qantas among its clients, and the technology has been used for television shows such as Australian Idol to support inbound SMS mass voting.

Message Media was due to head to the boards through Macquarie Capital.

Based in Melbourne, the group, which creates SMS products, generates about $70m annually in revenue.