SiteMinder lists on ASX

SiteMinder lists on ASX

21 November 2021 By Naomi Neilson
SiteMinder lists on ASX

Open hotel commerce platform SiteMinder has been successful on its IPO and ASX listing with assistance from Gilbert + Tobin.

Firm: Gilbert + Tobin (SiteMinder)

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Deal: Gilbert + Tobin (G+T) has advised SiteMinder on its successful IPO and ASX listing, under which it raised $627 million and debuted on the ASX with a market capitalisation of $1.36 billion.

Value: Raised $627 million and debuted on ASX with $1.36 billion market capitalisation.

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Area: IPO.

Key players: The team was led by partners Costas Condoleon and Adam D’Andreti, with support from lawyers Wes Bainbridge, Kevin Zhou, Jessica Liang, Arda Reznikas and Maria Bletsas. Other lawyers across the firm also assisted.

Deal significance: SiteMinder’s platform empowers hotels and accommodation providers to sell, market, manage and grow their business from one place and is ranked among technology pioneers for opening up every hotel’s access to online commerce. In the year prior to the pandemic, SiteMinder generated more than 100 million reservations worth over US$35 billion in revenue for hotels.

Commenting on the deal, Mr Condoleon and Mr D’Andreti said: “SiteMinder is a brilliant success story of Australian innovation and demonstrates that Australia can produce global market-leading technology companies.

“Its IPO and successful debut on ASX’s boards reflects the market’s confidence in the business. It was our pleasure to have advised them on this significant milestone, and we look forward to watching the team to succeed.”

SiteMinder lists on ASX
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