Australia: Maddocks advises on eCommerce IPO
Maddocks has advised Australian eCommerce company MyDeal.com.au Limited on its $40 million initial public offering (IPO) and listing on the Australian Securities Exchange, which has capitalised on the current surge in e-commerce during the COVID-19 pandemic.
MyDeal.com.au is an online retail marketplace focused on household goods. It has more than 800 active sellers on its platform with over 5 million product listed across 2,000 categories.
MyDeal’s IPO was very strongly supported by investors and the funds raised will be used to drive future growth of its business.
The capital raising, underwritten by Royal Bank of Canada and Morgans Corporate, will value the company at $258 million when it lists on ASX on 22 October 2020.
The Maddocks team on the transaction was led by partner Catherine Merity supported by special counsel Rosamond Sayer, senior associate Suzette Caldaroni and lawyers Miles Tuckfield and Millie Crighton.
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