SOC.ASX - Soco Corporation

[Whome]

IPO'd Dec'22. Would not normally get into an IPO but thought this worthy of an allocation in the fun section.
Strong organic growth with 61% CAGR over 3 years.
FY22 EBIT $1.8M on revenue $13.4M.
FY23 F/C EBIT $3.0M on F/C revenue $18.5M.
NO DEBT. Founders have 80% skin in the game with 12 mth escrow, so not a sell down (cf'd to MFB.NZX).
DMX Capital Partners have taken a 2.48% cornerstone shareholding.
Growing client businesses with 'digitisation' at a time of general human skill shortage. Aus State & Federal depts among clients. No real moat so reliant on skill base to deliver, but have operated successfully for 9 years.
SP opened this morning A$0.35

[Gerald]

Think DMX owned this if you read their last monthly.