22 Apr 2016

Clayton Utz acting for JLMs on Redbubble IPO and ASX listing

Melbourne, 22 April 2016: Clayton Utz is acting for Morgans Corporate Limited and Canaccord Genuity (Australia) Limited as Joint Lead Managers on the Initial Public Offering (IPO) and listing on the Australian Securities Exchange (ASX) of online creative marketplace Redbubble.

Corporate partner Brendan Groves is leading the Clayton Utz team, which includes Warrick Louey and Kate Allison.

Shares will be offered at $1.33 to raise an initial $30 million to fund Redbubble's growth strategy and provide returns to early-stage investors. Redbubble is expected to list on the ASX on May 17 with a market capitalisation of $267 million.

Brendan said the Clayton Utz team was excited to be involved in this milestone stage of growth and expansion of yet another Australian technology company success story. "It's another example of an Australian-founded online business that sees the potential to realise global success by seeking outside investors."

Companies like Redbubble, WiseTech, Oneview Healthcare, MYOB and Touchcorp are all examples of the growing stable of global, new-world economy tech companies listed on ASX. Clayton Utz has acted on all of these IPOs. They demonstrate the depth and sophistication of the Australian capital markets.

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Clayton Utz communications are intended to provide commentary and general information. They should not be relied upon as legal advice. Formal legal advice should be sought in particular transactions or on matters of interest arising from this communication. Persons listed may not be admitted in all States and Territories.