K&L Gates acts on IPO and ASX listing of education technology company

Funds raised will be used to “fuel the growth plans of the business,” says firm

K&L Gates acts on IPO and ASX listing of education technology company
Russell Lyons

K&L Gates has acted for education technology company, Cluey Limited, on its successful initial public offer and listing on the Australian Securities Exchange (ASX).

The K&L Gates team that advised Cluey was led by corporate/mergers and acquisitions (M&A) and capital markets partner Russell Lyons and tax partner Betsy-Ann Howe, supported by senior associates Joel Farina, Priscilla Ng, and Julia Khomenko, and lawyer Leon Fung.

In a statement, K&L Gates said that the funds raised by Cluey under its “heavily oversubscribed IPO” will “be used to fuel the growth plans of the business.”

“We are very pleased to have been able to assist Cluey with its successful IPO and ASX Listing,” said Lyons. “It is not every day that you bring a company to the market in record-breaking time and amid a global pandemic. We congratulate the Cluey team and very much look forward to being part of the company's future growth and success.”

“Our listing is a significant milestone for our company,” said Mark Rohald, chief executive officer of Cluey. “We’re excited about delivering our next phase of growth and we welcome our new investors on this journey. Since launching in July 2018, we’ve delivered close to 200,000 learning sessions. We continue to see strong growth in the demand for our services and are accelerating the recruitment of additional customer acquisition personnel ahead of the start of the new academic year in Q3 FY2021, our peak enrolment period.”

Bell Potter Securities Limited and Canaccord Genuity (Australia) Limited served as joint lead managers and underwriters for the IPO.

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