4 December 2019

Tyro announces Successful Completion of Bookbuild at $2.75 per share



Sydney, 4 December 2019 – Tyro is pleased to announce that, following strong interest from a range of institutional investors, it has successfully completed its Bookbuild at the previously announced price of $2.75 representing the top of the indicative IPO price range.  Approximately $287.1 million of shares were allocated to investors under the Bookbuild.

It is expected that Tyro will commence trading on the ASX at midday (Sydney Time) on Friday, 6 December 2019 on a conditional and deferred settlement basis with commencement of trading on the ASX on a normal settlement basis to take place from 13 December 2019. Further details in relation to offer and Tyro’s listing, including total number of shares offered and allocations policies adopted for each component of the offer, will be released to the market prior to commencement of trading.



Media enquiries:

Brett Clegg, Cato & Clegg – 0487 436 985 | brett@catoandclegg.com
Chloe Rees, Cato & Clegg – 0417 665 416 | chloe@catoandclegg.com



Important Notice: The Prospectus in electronic form is available to Australian residents at https://events.miraqle.com/Tyro-IPO/Home/. From Tuesday, 26 November 2019, paper copies of the Prospectus will be available to certain eligible investors by calling the Offer Information Line on 1800 883 072 (within Australia) from 8:30am to 5:30pm (Sydney time) Monday to Friday (excluding public holidays). Questions regarding the Offer may also be directed to the Offer Information Line. The Offer has closed.

This communication does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. The shares referred to herein have not been, and will not be, registered under the U.S. Securities Act of 1933 (the “U.S. Securities Act“) or under the securities laws of any state or other jurisdiction of the United States and may not be offered or sold in the United States absent registration under the U.S. Securities Act or an exemption from registration requirements.



About Tyro

Tyro is a technology-focused and values-driven company providing Australian businesses with payment solutions and value-adding business banking products. The company provides simple, flexible and reliable payment solutions as a merchant acquirer, along with complementary business banking products.

For the more than 29,000 Australian merchants who chose to partner with Tyro in FY19, the company processed more than $17.5 billion in transaction value. In FY19 the company generated $189.8 million in revenue, originated $52.2 million in loans and held merchant deposits totaling $26.9 million.

Tyro is Australia’s fifth largest merchant acquiring bank by number of terminals in the market, behind the four major banks.

The business was founded in 2003 with a goal of being the most efficient acquirer of electronic payments in Australia. Tyro has a track record of innovation, creating purpose-built solutions and being first to market. This approach saw the company become the first technology company to receive an Australian specialist credit card institution licence in 2005. In 2015 that licence was replaced by the award of an Australian banking licence, making Tyro the first new domestic banking licensee in over a decade.

Payments are at the core of Tyro’s business, using its proprietary core technology platform to enable credit and debit card acquiring. This offering is enhanced by features purpose-designed for those merchants who choose to partner with the company, including Point of Sale systems integrations, least-cost routing (Tap & Save) and alternative payment types such as integrated Alipay. While traditionally focused on in-store payments, Tyro has recently expanded into eCommerce.

Further, Tyro provides value-adding solutions to its partners, such as loans in the form of merchant cash advances and fee-free, interest-bearing merchant transaction accounts.

Tyro are a team of more than 450 people, approximately half of whom are in technology roles.