Thomson Geer has advised leading Australian online local services marketplace, Airtasker on its successful A$83.7m initial public offering and debut on to the ASX.
Founded in 2012, Airtasker is an online platform that enables users (individuals and businesses) to connect with and hire people to complete an open ended range of tasks.
Airtasker raised $83.7 million 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 $255.4 million.
Demand for the company’s stock was very high, with Airtasker closing at $1.05 on listing day.
The funds raised will be used to accelerate Airtaskers growth strategy through the expansion of Airtasker’s platform both nationally and internationally and to fund working capital requirements.
Thomson Geer partner David Zwi said, “It has been a great pleasure working with the Airtasker team lead by its visionary CEO Tim Fung and Chairman James Spenceley on this transformational step in its role as a ground breaking Australian company. We wish them every success”.