Singapore-based SportsHero Limited (SportsHero.mobi), which operates what it claims to be the world’s first social network dedicated to sports prediction, commenced trading today on the Australian Securities Exchange (ASX) under the ticker code “SHO”.

Following roadshows to brokers and sophisticated investors in Singapore and Australia, SportsHero raised AU$3.2 million ($2.44 million) through the issue of 64 million shares issued at AU$0.05 per share.

SportsHero’s listing came via a reverse takeover of Nevada Iron Ltd. Dinesh Bhatia, CEO of SportsHero said, “The Board and management team loook forward to creating accelerated value for our shareholders with the successful listing on the Australian Securities Exchange.

The listing will give SportsHero access to both domestic and international investors and the proceeds raised will allow the Company to advance the development and commercialisation of SportsHero on an Asian and global scale, including developing ecommerce and engagement features for further monetisation of the platform,” Bhatia continues. He adds that over the next 12 to 18 months, SportsHero will be focusing on customer acquisition, introducing additional sport and enhancing the features and user experience. It also plans to continue engaging with its user base while doing so.