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Syntonic shares are going nuts on ASX listing

TIZIANA FABI/AFP/Getty Images

Shares in Syntonic, which makes data usage for Pokémon GO cheaper, jumped by almost one quarter when the sponsored content services company listed on the ASX today.

At one stage the shares were trading at $0.037, up 23.3%, from the offer price of $0.022. They closed at $0.035, up 16.6%. Syntonic opened on the ASX via a backdoor listing through Pacific Ore Ltd.

The Seattle-based Syntonic enables sponsored access to Pokémon GO on the AT&T network in the US.

The company’s product Freeway lets application developers, content providers, mobile operators and advertisers pay for a subscriber’s mobile data usage.

“Pokémon GO is a global phenomenon that has engaged millions of users around the world and it’s a perfect use case for sponsored data,” says CEO Gary Greenbaum.

“The game is more compelling outside of physically limited Wi-Fi networks, providing a great experience over cellular networks as part of its geographic discovery, which bridges the real world with a virtual world, but can also quickly eat away at a user’s monthly mobile data limits.

“By delivering access through sponsored data with Freeway by Syntonic, users can freely engage with the game without impacting data usage.”

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