Baker McKenzie is advising on the first-ever Australian IPO of a German company.
The global firm is acting for Pyrolyx AG, a leading company in the field of recycling carbon black from used tyres, which are then used in the production of new tyres. Pyrolyx will use the proceeds of the capital raising to expand into the US.
“We are increasingly being asked to assist foreign companies trying to access Australian capital markets and are delighted to act for the Pyrolyx Group in this ground-breaking exercise by a German company,” said partner Steven Glanz.
Partner Lauren Magraith said the deal was complex and the Baker McKenzie team had to tackle unique issues.
“Listing a German company on the ASX with different governance and capital structures involved many novel issues which we worked through successfully with ASX. Pyrolyx will have its primary listing on the ASX, with a secondary listing on the Xetra OTC German Stock Exchange,” Magraith said.
The capital markets partners were supported by special counsel Hoda Nahlous and associates Ivo Basoski and Matt De Cataldo.
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