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IT security company launches IPO
Two-office firm Kelly Hazell Quill Lawyers has advised on Tesserent Limited’s IPO.
Felicity Nelson
Firm: Kelly Hazell Quill Lawyers (Tesserent Limited)
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Deal: Tesserent Limited launched an initial public offering.
Value: $7 million
Areas: Corporate and Technology
Key players: Kelly Hazell Quill director Andrew Walker led the team, with support from senior associate Kate Landells and lawyer Lisa Praszkier.
Deal significance: Tesserent Limited has conducted an IPO on the ASX.
Tesserent Limited is a direct provider of Security-as-a-Service (SaaS) to small and large organisations, helping them protect their computer networks with its Managed Security Service Provider (MSSP) platform.
Tesserent closed the IPO two weeks early with it being heavily oversubscribed, raising the maximum subscription of $7 million from both Australian and international investors.
The IPO and the funds raised will allow Tesserent to expand its IT infrastructure, sales and marketing programs and support the company’s ongoing research and development programs.
Tesserent listed on the ASX on 15 February with a market capitalisation of $20.5 million, based on the $0.20 per share offer price.
