Australian 3D printing company 333D (formerly known as 3D Group) has listed on the ASX after raising $3.5m through its initial public offering.
Although expectations were high for the Melbourne-based company, its share price has remained flat at $0.02 cents per share since its ASX debut on August 25.
3D Group initially generated hype at a Melbourne expo in 2014 when it showed a prototype of what was considered to be the world’s largest commercial 3D printer.
However, when a business deal went sour in late 2014 co-founder John Conidi placed the company into voluntary administration and weeks later registered a new company called 333D Pty Ltd.
The move triggered an ASIC investigation which is still pending after former business partner and inventor Jason Simpson claimed he was left with nothing after the new company was formed.
333D has now reportedly entered an exclusive deal with the Australian Football League (AFL) to 3D print merchandise, such as player figurines.
The company’s famous shareholders include former AFL CEO Andrew Demetriou, president of the Collingwood Football Club Eddie McGuire, and well known financial journalist Alan Kohler.
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