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TEK-Ocean Group makes ASX debut

Gadens has advised TEK-Ocean on its $6.6 million IPO and successful listing on the ASX.

September 10, 2021 • By Emma Musgrave
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Firm: Gadens (TEK-Ocean).

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Deal: TEK-Ocean has completed an IPO and listed on the ASX.

 
 

Value: $6.6 million IPO, with a $19.1 million market capitalisation on listing.

Area: Corporate.

Key players: The Gadens team was led by corporate partner Michael Kenny who worked with senior associate Gary Lim and associate Brittany Kluske.

Deal significance: TEK-Ocean Group is an energy services company founded in 2007.

The Melbourne-headquartered group provides an integrated service offering to its clients in the oil and gas, marine and renewable energy sectors, both on and offshore, a statement from Gadens confirmed, noting that "the proceeds from the IPO will be used to fund capital improvements to its vessel and investment in subsea capital equipment, plus repay some of its debt facilities".

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Commenting on the transaction, partner Michael Kenny said: "Gadens have worked with TEK-Ocean throughout the uncertainty brought about by the COVID-19 pandemic. It is excellent to see their journey continuing with them undertaking an IPO and a successful listing on the ASX". 

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Emma Musgrave

Emma Musgrave

Author

Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.

Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences. 

Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.

She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University. 

Email Emma on: This email address is being protected from spambots. You need JavaScript enabled to view it. 

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