Monday 2 July 2018

Law firm Maddocks has advised Silicon Valley-based technology company Pivotal Systems on its initial public offering (IPO) and listing on the Australian Securities Exchange (ASX), which completed today.

The IPO raised $53.5 million, placing the value of the specialist semiconductor manufacturing company at more than $230 million. The venture capital backed company has received strong interest for its IPO from Australian investors.

The Maddocks team advising Pivotal was led by partner Catherine Merity, special counsel Rosa Sayer and lawyer Jordan Reid.

Catherine and Rosa have a long track record advising on successful IPOs for both Australian and international clients and have advised three leading US tech companies on their listings on the ASX over the past three years.

"We are delighted to have been able to assist Pivotal with its successful IPO," Catherine said.

"With the recent uncertainty regarding certain technology companies on ASX, it is great to see such strong demand for an established company such as Pivotal with strong fundamentals operating in the tech sector.

"The success of this and other recent IPOs of US companies evidences that an IPO on the ASX is becoming a real alternative for smaller technology companies which do not have the scale to list in the US, providing both a sophisticated market and access to growth capital."

Editor note:

Maddocks is an independent Australian law firm that works closely with corporations, businesses and governments throughout Australia and internationally. We advise national and international clients across the built environment, education, government, healthcare and technology sectors, from our Canberra, Melbourne and Sydney offices.

For more information, or to arrange an interview, please contact:

Jason Silverii
Communications Manager
Tel: 3 9258 3509
Mobile: 0407 618 058
jason.silverii@maddocks.com.au