Login
Airtasker cements ASX float
Australian law firm Thomson Geer has advised Airtasker Limited on its $83.7 million debut on the Australian Securities Exchange (ASX).
Emma Musgrave
Firm: Thomson Geer (Airtasker Limited).
Value: $83.7 million.
Area: IPO.
Key players: The legal team advising Airtasker Limited was led by Thomson Geer partner David Zwi, with support from partner Sanushka Seomangal, senior associate Nicola Moldrich, associate Nicholas Karam, lawyer Kylie Zih and graduate lawyer David Costantino.
Deal significance: In what’s being described as one of the first major ASX floats of the year, Airtasker’s IPO went live on 23 March 2021.
The company, which was founded in 2012, is an online platform that enables individual and business users to connect with and hire people to complete an open-ended range of tasks.
“Airtasker is seeking to raise $83.7 million through the issue of 128.7 million shares at $0.65 each,” a statement from Thomson Geer confirmed.
“The funds will be used to accelerate Airtasker’s growth strategy through the expansion of Airtasker’s platform both nationally and internationally and to fund working capital requirements.
“On completion of the IPO, Airtasker Limited will be a publicly listed company on the ASX, with an indicative market capitalisation of $255.4 million, and enterprise value of $226.9 million.”
Commenting further, Thomson Geer partner Mr Zwi said: “It has been a pleasure working with Airtasker on what is a very significant transaction for this grassroots Australian company. We wish them every success.”
Emma Musgrave
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
Email Emma on:
