Digislide rings the bell at the ASX

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Digislide rings the bell at the ASX

Handheld projector designer raises over $3m in IPO.

An Adelaide-based manufacturer of handheld projectors has listed on the Australian Stock Exchange (ASX).

Digislide Holdings joined the ASX with an initial public stock offering of $1.25, becoming just the second South Australian company to list this year.

Digislide's CEO Luceille Outhred, currently in Singapore, praised the company for its strength during a tough economic year.

"Whilst the market has risen from the March lows, any company listing now needs an excellent track record and a tenacious management team leading the way with an aggressive strategic plan," she said.

Digislide specialises in the development and commercialisation of miniature projection technologies for mobile devices.

Products include the Digishow (pictured), a handheld projector launched in May that allows users to project data from a handheld device to a wall.

Digislide lodged a Prospectus with the Australian Securities and Investments Commission (ASIC) on 11th December 2008 relating to a public offer of up to 3,600,000 Shares at $1.25 per Share to raise up to $4.5 million.

It raised well in excess of the minimum $3 million needed in the public offer to take several miniature projectors to market.

"Ten years ago our early local investors backed the company because of the exciting technologies being developed out of South Australia. Recently, investors have seen the potential of burgeoning international markets and potential for return on investment," Luceille said.

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