Serko Placement Fully Subscribed

Serko Limited, Saatchi Building, Unit 14D 125 The Strand, Parnell, Auckland, New Zealand
PO Box 47-638, Ponsonby, T: +64 9 309 4754, F: +64 9 377 0545, company.secretary@serko.com
Incorporated in New Zealand ARBN 611 613 980
1
Market Release
24 October 2019

Serko Placement Fully Subscribed

Serko Limited (NZX/ASX:SKO), a leader in online travel booking and expense management for
business, is pleased to advise the successful completion of its NZ$56 million placement (the
"Placement"), comprising a NZ$40 million primary issuance ("Primary Issue") and a sell down by
certain directors and employees of approximately NZ$16 million of existing shares ("Sell Down").
13,770,990 shares were sold across the Primary Issue and Sell Down at the fixed price of NZ$4.04 per
share. This represents a 4.9% premium to the closing price on NZX of NZ$3.85 on 22 October 2019.
As part of the Placement, Booking Holdings Inc. (via a wholly owned subsidiary) took up 4,331,683
shares, comprising an NZ$17.5 million (approximately 4.7%) investment in Serko.
The Placement was well supported, attracting bids from 25 institutional investors across New Zealand
and Australia, as well as strong participation from retail investors. The book was oversubscribed and
subject to scaling.
Serko CEO Darrin Grafton said, "The capital raising provides Serko with an exciting opportunity to
accelerate the global rollout of Serko Zeno and expand marketplace content. We would like to thank
Booking Holdings for their investment in the Placement and look forward to working with them.
We are also very pleased with the level of support received for the raise from new and existing
investors, who invested at a 4.9% premium to the closing share price on 22 October 2019,
demonstrating strong support for Serko’s strategy.
We thank our advisers for their support in executing the capital raising and welcome our new investors
onto the register.”
Serko’s ordinary shares will recommence trading upon market open tomorrow. Settlement of the
Placement is expected to occur on 29 October 2019 and 30 October 2019 for the ASX and NZX
respectively, with allotment of all shares and commencement of trading on 30 October 2019. The new
shares issued under the Placement will rank equally with existing Serko ordinary shares. Pursuant to
the NZX Waiver for Rule 5.2.1 granted on 16 October 2019, no shareholder approval was required to
undertake the Placement.
Deutsche Craigs Limited acted as underwriter and Deutsche Craigs Limited and Cameron Partners
Limited (New Zealand global alliance partner of Rothschild & Co.) acted as Joint Lead Advisers for the
Placement.
As announced previously, Serko intends to make an additional offer of up to NZ$5 million through a
Share Purchase Plan (“SPP”). The SPP will be offered to all eligible existing Serko shareholders
resident in New Zealand or Australia, enabling them to each subscribe for up to NZ$15,000 of new
Serko shares at the lower of the Placement price and the five-day VWAP during the last five days of
the SPP offer period.

Ends

Serko Limited, Saatchi Building, Unit 14D 125 The Strand, Parnell, Auckland, New Zealand
PO Box 47-638, Ponsonby, T: +64 9 309 4754, F: +64 9 377 0545, company.secretary@serko.com
Incorporated in New Zealand ARBN 611 613 980
2


For investor relations queries please contact:
Susan Putt
Chief Financial Officer
Serko +64 9 309 4754 or +64 21 388 009
investor.relations@serko.com