Shaw and Partners closes Revasum IPO bookbuild News09 Nov 2018

Shaw and Partners is pleased to have closed the IPO bookbuild for Revasum raising A$30.7 million, after having previously raised US$8 million for the company in a pre-IPO funding round in August. The deal was strongly supported by both institutional and retail investors.


Revasum is a Californian based firm that manufactures equipment to make microchips used in mobile phones, cars, and internet-connected devices. Its technology enables manufacturers of semiconductor substrates and devices to reliably produce at higher yields and lower costs to their competitors.


Under the offer, Revasum is issuing 15.4 million shares at A$2.00 a share. The indicative market capitalisation of the company at the offer price is $153m valuing the US-based technology equipment maker at 2x revenue on an enterprise value to FY19 revenue basis.


The company intends to accelerate its growth strategy with the raised funds; increasing marketing and product demonstration capabilities to bolster sales and help secure new customers, expanding its product portfolio to add depth to its addressable market size, including continuing two customer-led product development projects that are expected to add incremental system sales.


For the full details of the offer and a copy of the prospectus, contact your Shaw and Partners Adviser.



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