Allens advises Redbubble on IPO and ASX listing

Allens has advised Redbubble Limited on its $39.8 million Initial Public Offer, launched with the lodgement of a prospectus on 19 April.

Redbubble – headquartered in Melbourne and with offices in the United States and Europe – operates a global online marketplace where independent artists and designers upload their creative works. When ordered by a customer, a product bearing that creative work is produced on demand by one of a network of third party fulfillers.

Redbubble was launched in 2006 and has grown to be a leading global online marketplace for independent artists, with 399,000 artists offering 9.8 million designs available for production on a range of 51 different products. In FY2015, Redbubble earned revenue in excess of $71.0 million with 1.44 million customers from around the globe acquiring products on the Redbubble marketplace.

The IPO is expected to raise total proceeds of $39.8 million based on an offer price of $1.33 per share, which will give Redbubble a market capitalisation on listing of $267.7 million.

The Allens team on the IPO was led by Corporate Partner and Co-Head of the Allens Equity Capital Markets team Robert Pick and also included Partner Julian Donnan.

'Redbubble is a terrific Australian technology success story,' Robert said.

'Since its launch in 2006, it has had a global focus and is now a leading global marketplace with customers, artists and fulfillers located all around the world.

'We have thoroughly enjoyed working with the Redbubble management team and directors, and its existing shareholders , on this important step in the company's evolution,' he said.

Allens' role on the IPO is another example of the firm's strong technology sector practice, which covers the full spectrum of transactions from high-value capital markets and M&A transactions to smaller start-up companies via Allens' market-leading Accelerate offering.

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