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An Israeli-incorporated global payment installment solution company Splitit Payments Ltd has been advised on its initial public offering on the Australian Stock Exchange.
Firm: DLA Piper (Splitit Payments Ltd); Armada Capital (sole lead manager).
Value: $12 million
Area: Capital raisings
Key players: The DLA team was led by partner Marc Wilshaw with solicitors Jonathan Foo and Stephen Waddington.
Intellectual property support was provided by Australian co-managing partner Melinda Upton and senior associate Jessie Buchan.
Deal significance: The oversubscribed IPO raised $12 million and its closing price after its second full day of trading was A$0.645 (223 per cent higher than the issue price under the IPO) resulting in a market capitalization of approximately A$174 million.
“As one of the largest firms in the world with a focus on technology and innovation, it was a pleasure to work on a successful fintech IPO and to utilise the knowledge base of the firm to assist an exciting growth business with the next step in its development,” Mr Wilshaw said.
Jerome Doraisamy is the managing editor of Lawyers Weekly and HR Leader. He is also the author of The Wellness Doctrines book series, an admitted solicitor in New South Wales, and a board director of the Minds Count Foundation.
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Jerome Doraisamy
