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ASX listing milestone for e-recruiting company

ASX listing milestone for e-recruiting company

The market debut of e-recruiting company ApplyDirect has seen its shares surge at 52 per cent premium on the issue price.

Firms: MinterEllison (ApplyDirect Limited)

Deal: ApplyDirect has completed an IPO and listed on the Australian Securities Exchange.

Value: $8 million

Area: M&A

Key players: The MinterEllison team advising ApplyDirect was led by partner David Schiavello (pictured), with support from associate Daniel Bell and lawyer Jess Rogers.

Deal significance: ApplyDirect Limited has completed an $8 million initial public listing on the Australian Securities Exchange.

The e-recruiting company began trading shares on the ASX on 23 June and listed with a market capitalisation of $33 million. The shares surged on their market debut, closing at 30.5 cents, a 52 per cent premium on the issue price.

ApplyDirect links Australian job seekers with recruitment systems using proprietary software. The e-recruitment platform gives employers direct access to a "purpose-built candidate-attraction system", cutting out the middle man of traditional recruitment models and its associated costs.

MinterEllison partner David Schiavello, who led team advising the IPO, offered his congratulations to the ApplyDirect leadership team on its milestone.

"We congratulate ApplyDirect's management team, led by managing director Bryan Petereit, and also executive chairman Michael Kay, on this milestone transaction," Mr Schiavello said.

"We are pleased to have assisted ApplyDirect in structuring its offer at a level that attracted overwhelming support, and helping the company navigate its way through the legal issues faced by an emerging technology-based company approaching public markets for the first time," he added.

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