September 16, 2021

WatchMaker has finally gone public, after years of stalling on the idea.

The company’s chief executive, Tom Goss, has said it is “a significant milestone for WatchMaker”.

In a statement, WatchMaker said it would “actively seek to raise funds”.

WatchMaker had previously announced it would be listing on the ASX under the ticker Big 3, but that was only after the company had missed its initial target of $2 billion in revenue.

“Big 3 watchmaking is now in a position to achieve a significant valuation of more than $4 billion,” WatchMaker chief executive Tom Giss said in a statement.

“We are also in a strong position to acquire more assets from other stakeholders to achieve this objective.”

The company said it was “committed to the continued growth and success of WatchMaker”, and it was seeking a “large number of strategic new investors” to help “drive our business to profitability”.

WatchMaker’s shares have been steadily rising in the past few months, climbing by more than 12 per cent on Wednesday to a record $6.35.

The Australian Securities Exchange is currently closed on Wednesday and Thursday, so there is no stock market in New South Wales.

The company has also raised $1 million in funding through a Series B round led by a Chinese investment company, which is expected to close in the next week or so.

Read, Australia

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