Deal: Titomic Ltd (Titomic) has listed on the Australian Stock Exchange; In house (PAC Partners)

Value: $22.6 million market capitalisation on IPO

Area: Corporate, finance

Key players: The Holding Redlich team advising Titomic was led by partner Harry Kingsley, with assistance from senior associate Kaveh Zegrati, associate Yasmin Mitchell and solicitor Seamus Herrick.

Deal significance:

Titomic successfully launched onto the ASX with a $22.6 million market capitalisation on IPO. The Melbourne-based metal manufactuer developed its technology together with the CSIRO, which held ownership of the patents for the special kinetic fusion technology.

According to a statement released by Titomic’s legal adviser, Holding Redlich, the share price of the company doubled on its first day of listing.

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Lead partner Harry Kingsley said that it was exciting to witness a “technology change agent” such as Titomic embraced by Australia’s financial markets.

“We are pleased that Holding Redlich has been able to have assisted this leading-edge company take its next step to commercialisation,” Mr Kingsley said.

He explained that the company’s Titomic Kinetic Fusion technology had versatile applications across a range of industries.

“By spraying a titanium metal powder at supersonic speeds, particles impact and bond with the scaffold material,” Mr Kingsley said.

“This means that as well as high-volume applications such as sporting goods, automotive and medical equipment, the technology could be used to manufacture low-volume, high-value components for the aerospace.”

Pac Partners acted as the underwriter and lead manager of the IPO for Titomic. The investigating accountants for the IPO were Pitcher Partners.