ASX milestone for Melbourne metal manufacturer

ASX milestone for Melbourne metal manufacturer

27 September 2017 By Melissa Coade
Scientist

The successful listing of an Australian metal manufacturer has seen its share price double on the first day of its IPO.

Firms: Holding Redlich (Titomic Ltd)

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

Value: $22.6 million market capitalisation on IPO

Advertisement
Advertisement

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.

SPONSORED CONTENT

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.

ASX milestone for Melbourne metal manufacturer
Intro image
lawyersweekly logo
The Women in Law Awards is the benchmark for excellence, recognising the empowering women influencing the Australian legal profession, celebrating the female leaders, role models and future champions of the industry. Register for the waitlist today for the opportunity to attend this remarkable awards ceremony and network with top legal professionals and fellow peers.
Visit womeninlaw.com.au