Payment solution company advised on IPO

By Jerome Doraisamy|03 February 2019

An Israeli-incorporated global payment installment solution company Splitit Payments Ltd has been advised on its initial public offering on the Australian Stock Exchange.

Firm: DLA Piper (Splitit Payments Ltd); Armada Capital (sole lead manager).

Deal: DLA advised Splitit on its IPO on the ASX last week, in oversubscribed offering that raised $12 million.

Value: $12 million

Area: Capital raisings

Key players: The DLA team was led by partner Marc Wilshaw with solicitors Jonathan Foo and Stephen Waddington.

Intellectual property support was provided by Australian co-managing partner Melinda Upton and senior associate Jessie Buchan.


Deal significance: The oversubscribed IPO raised $12 million and its closing price after its second full day of trading was A$0.645 (223 per cent higher than the issue price under the IPO) resulting in a market capitalization of approximately A$174 million.

“As one of the largest firms in the world with a focus on technology and innovation, it was a pleasure to work on a successful fintech IPO and to utilise the knowledge base of the firm to assist an exciting growth business with the next step in its development,” Mr Wilshaw said.

Payment solution company advised on IPO
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