Deal: Cluey Limited has been advised on its successful initial public offering (IPO) and listing on the Australian Securities Exchange (ASX).

Value: Undisclosed.

Area: Corporate.

Key players: The K&L Gates team that advised Cluey was led by corporate/M&A and capital markets partner Russell Lyons and tax partner Betsy-Ann Howe, supported by senior associates Joel Farina, Priscilla Ng and Julia Khomenko, and lawyer Leon Fung.

Deal significance: According to a statement from K&L Gates, the funds raised by Cluey under its “heavily oversubscribed IPO” will be used to fuel the growth plans of the business.

“We are very pleased to have been able to assist Cluey with its successful IPO and ASX Listing. It is not every day that you bring a company to the market in record-breaking time and amid a global pandemic,” said Sydney-based partner Mr Lyons.

“We congratulate the Cluey team and very much look forward to being part of the company’s future growth and success.”

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Meanwhile, Cluey chief executive officer Mark Rohald noted the significance of the matter.

“Our listing is a significant milestone for our company. We’re excited about delivering our next phase of growth and we welcome our new investors on this journey. Since launching in July 2018, we’ve delivered close to 200,000 learning sessions,” he said.

“We continue to see strong growth in the demand for our services and are accelerating the recruitment of additional customer acquisition personnel ahead of the start of the new academic year in Q3 FY2021, our peak enrolment period.”

Bell Potter Securities Limited and Canaccord Genuity (Australia) Limited served as joint lead managers and underwriters for the IPO.