Thomson Geer acts on successful IPO of gig economy start-up

Start-up raises $83.7m with an indicative market capitalisation of $255.4m

Thomson Geer acts on successful IPO of gig economy start-up

Thomson Geer has advised Australian gig economy online marketplace Airtasker on its successful initial public offering (IPO) and Australia Securities Exchange (ASX) listing.

In a statement, the law firm said Airtasker raised $83.7m through the issue of 128.7 million shares at $0.65 each. On completion of the float, Airtasker made its ASX debut under the code ‘ART’ with an indicative market capitalisation of $255.4m.

Airtasker is an online platform that enables users to connect with and hire people online to complete an open-ended range of tasks.

According to Thomson Geer, Airtasker will the use the capital to “accelerate its growth strategy” through the expansion of the platform both nationally and internationally, as well as fund working capital requirements.

The Thomson Geer team consisted of partner David Zwi, partner Sanushka Seomangal, senior associate Nicola Moldrich, associate Nicholas Karam, lawyer Kylie Zih, and graduate lawyer David Costantino.

“It has been a great pleasure working with the Airtasker team lead by its visionary chief executive officer Tim Fung and chairman James Spenceley on this transformational step in its role as a ground-breaking Australian company,” said Zwi. “We wish them every success.”

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