Outdoor player XTD has closed off on an initial public offering, raising $3 million ahead of an international push which will focus on the US.
The company will list on the Australian Securities Exchange on December 18 and was fully subscribed.
XTD installs billboard-sized LED screens in train stations, and has installed 32 screens in Melbourne train stations, with clients such as Google, News Corp, American Express, and PayPal signing up.
Next month it will continue with the installation of 15 screens in Brisbane under a seven-year contract with QR Rail.
The Brisbane push is now fully funded and the company is turning its attention overseas.
XTD's commercial team has just returned from the US on a scouting mission, and has now pegged the market as a key destination next year.
“Digital out-of-home advertising is a rapidly growing sector of advertising in the USA and we see a huge growth opportunity when entering that market,” XTD CEO Steve Wildisen said.
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