Tubi advised on ASX listing and IPO
DLA Piper has assisted a Sydney-headquartered company on its IPO and ASX listing.
Firm: DLA Piper (Tubi Limited)
Deal: DLA Piper has advised Tubi Limited on its IPO and listing on the ASX.
Value: $48.5 million
Area: Corporate, Industrial
Key players: DLA Piper’s team was led by Sydney-based David Ryan, with special counsel Kelly Morrison, partners Nicholas Turner and Nicholas Boyle, senior associates Elliott Cheung and Clancy King, and solicitors Tun Yeo, Ellie Harding, Jamie Crosbie and Valiant Warzecha.
The firm’s Palo Alto, Austin and San Francisco offices were also involved, with partners Cisco Palao-Ricketts, Ute Krudewagen, William H Hoffman and Dean Fealk, and associate Georgia A Jolink all providing support.
Deal significance: According to DLA Piper, Tubi Limited was founded in 2009 by Marcello Russo.
The Sydney-headquartered company has developed a unique proprietary technology for modular mobile manufacturing plants for the production of high-density polyethylene pipes and uses the transportable mobile plant to manufacture the pipe for industrial projects in remote locations, it’s been reported.
A statement outlined that Tubi has produced more than 14,000 tonnes of pipe across New Zealand and the United States using the mobile plant, with four new mobile plants currently being constructed.
Tubi listed on the ASX on 14 June 2019, with an indicative market capitalisation of approximately $48.5 million, it was reported.
Lead partner David Ryan commented that “Tubi has a clear and ambitious growth strategy, and we are delighted to advise them on this IPO and ASX listing as they continue to build their market presence and invest in new technologies”.
“It was another opportunity for DLA Piper to showcase its strength in equity capital market transactions and to leverage its global network to achieve a great result for our client,” he continued.