Rubicon Water completes IPO, ASX-listing

Rubicon Water completes IPO, ASX-listing

06 September 2021 By Emma Ryan
Rubicon Water completes IPO ASX-listing

Gilbert + Tobin has advised Rubicon Water Limited on its successful initial public offering and listing on the ASX.

Firm: Gilbert + Tobin (Rubicon Water Limited).

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Deal: Rubicon Water Limited has completed its IPO and listing on the ASX.

Value: Rubicon Water raised $40 million and had a market capitalisation of approximately $275 million at the end of its first day of trading.

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Area: Corporate.

Key players: The team advising Rubicon Water was led by Gilbert + Tobin corporate advisory partner Costas Condoleon and special counsel Lucy Hall, with assistance from lawyers Syavie Ghamry and Andrea Bennett.

Deal significance: Rubicon Water is a water technology solutions business that designs, manufactures, installs and maintains irrigation automation software and hardware.

The group "aims to address the issue of global water scarcity by maximising water availability and agricultural productivity through improved irrigation water use efficiency" with its solutions used "by governments, irrigation water authorities, and farmers to modernise gravity-fed irrigation distribution channel networks and on-farm irrigation systems"

Commenting on the group's IPO and listing, G+T's Costas Condoleon said: “Rubicon Water is a wonderful Australian success story that assists governments and irrigation water authorities around the world to implement policies to modernise antiquated irrigation infrastructure as they address the challenges of increasing water scarcity".

"We are truly delighted and very proud to have worked with Rubicon Water on its IPO and to have helped it expand its financial flexibility for investments in development and organic growth opportunities.”

Rubicon Water completes IPO, ASX-listing
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