Tech firms rethink float plans after Donald Trump US election shock

Three technology companies scheduled to float before Christmas are re-evaluating their plans on the back of the election of Republican candidate Donald Trump as US president.

While the market gained ground yesterday following a fall in stocks in the previous trading session, one description of the rally was “Trump Bump”, with the sharemarket expected to remain volatile for some time until there is certainty surrounding the policies of the president-elect.

PageUp, which was to float through UBS and Credit Suisse before Christmas, now plans to head to the boards in the first quarter of next year after embarking on a non-deal roadshow.

The Karen Cariss-founded company uses the software to recruit and retain personnel, managing the workflow process around a new recruit, and hopes to tap the market for $150 million when it eventually lists.

Soprano Design also now appears to have its initial public offering plans on the ice.

Soprano is a Sydney-based mobile messaging software solutions provider for enterprises and governments internationally and is being advised by Blackpeak Capital and UBS.

It counts Telstra, Vodafone, National Australia Bank, Accor, Transurban, Visa and Qantas among its clients, and the technology has been used for television shows such as Australian Idol to support inbound SMS mass voting.

The advisers have been booking meetings for an analyst roadshow in Hong Kong next week, but it is now thought it is unlikely to go ahead.

Message Media, which was due to head to the boards through Macquarie Capital, is also understood to be reassessing its options.

Based in Melbourne, the group, which creates SMS products, generates about $70m annually in revenue.