More share price gains for PYG which finished the day at its high of 91c, (June 2018)
…PayGroup has turned out to be one of the better performing IPOs of recent times.
and, sadly that was about it. Around the 70c mark looks closer to the mark:
From the outset, the company has maintained its Pan Asian focus (MESA+), utilising India and Philippines to grow the business smart-shoring (!)>. The first leg is PayAsia group of companies, including an Aust presence.. that now has 875 client entities.
Listed on ASX in May 2018 and acquired Astute One as a second leg at end of that year.. Astute is a leading SaaS platform provider to workforce management companies and the corporate sector, with over 300 clients in Australia and New Zealand.
Clients are typically medium to large multinational companies with employees in multiple countries across Asia Pacific. The Group operates as a “trusted partner to perform the outsourced payroll process for the client employees, contractors , banking, treasury, lodgement of statutory submissions including taxation, superannuation, pension, provident funds, and other social benefits. Beyond its SaaS Payroll Services, the Group’s SaaS HCM software platform supports clients in managing aspects of their employees’ life cycle, plus regional and mobile-enabled workflows for critical processes (such as employee and manager self-service, leave management and expense management).”