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Start-up hopes to raise $16m with IPO

Start-up hopes to raise $16m with IPO

Jason Marcus, Thomson Geer

Thomson Geer has advised a smart home products and services company on the launch of its initial public offering.

Firms: Thomson Geer (Koolsee New Media Group)

Deal: Koolsee New Media Group launched its IPO, hoping to raise up to $16 million.

Value: $16 million

Area: IPO

Key players: The Thomson Geer team comprised corporate partner Jason Marcus (pictured) and lawyer Eunice Leung.

Deal significance: Koolsee New Media Group, which has recently lodged its prospectus with ASIC, is a start-up that provides smart home products and services.

The offer opened on 2 November and will close on 7 December, with trading expected to begin on 21 December.

Koolsee will commence business in the China market, where demand for its products and services is high.

If the offer is fully subscribed, the company will offer 16 million shares at $1 per share. The suggested market capitalisation will be approximately $220 million.

Novus Capital Limited acted at the financial adviser, lead manager and the sponsoring broker for the deal.

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