DLA Piper demonstrates its global advantage
DLA Piper has advised US tech company Life360 on its AUD$820 million IPO and ASX listing. This is the largest Initial Public Offering (IPO) on the Australian Securities Exchange this year and one of the largest-ever tech debuts on the ASX.
Life360 is San Francisco-based, and has had huge success with its market-leading app for families. The Life360 app has 18.5 million monthly users in 160 countries, with features ranging from communications to driving safety and location sharing.
A listing of this magnitude actually boosts the ASX itself; it aspires to become a junior Nasdaq board for global fast-growth tech stocks. Life360 adds to its growing list of US tech companies; what attracts them down under is the compelling alternative to sourcing later stage capital in the US.
Life360's Chief Business Officer, Itamar Novick, praised DLA Piper’s project management: "DLA Piper is developing a strong reputation as the go-to firm for helping list US tech companies on the ASX,” he says. “They expertly guided us through all the twists and turns of our IPO and listing process. We quickly knew we could trust them to help us successfully execute our vision."
While the deal was led out of DLA Piper's Sydney office by David Ryan, the firm also advised on New Zealand securities law aspects of the transaction, which also involved the firm in Hong Kong and the United Kingdom.
DLA Piper New Zealand Corporate
partner Rachel Taylor, says "This transaction showcases the
strength of the firm in global capital markets transactions
in the technology sector and builds on DLA Piper's track
record in advising US tech companies on their ASX listings.
It also shows the power of the firm being able to streamline
advice over multiple jurisdictions to achieve great results