Shaw and Partners acted as Joint Lead Manager along with Moelis Australia for PVS’s $53.5 million initial public offering (IPO) with a listing market capitalisation of $233.2 million.

Today the listing of Pivotal Systems Corporation (PVS) came on at a 29% premium above the issue price of $1.86 per share.  The stock traded as high as $2.70 throughout the course of the day, closing its first day on the ASX at $2.59 (up 39%).

Shaw and Partners’ Corporate Finance Director, David Kells, said the IPO had been a great offering for investors as Pivotal Systems was a strong business with a solid business plan.

"We are very proud to bring this exciting company to the ASX. Shaw and Partners supported this float as we believe Pivotal is a quality company that deserves access to growth capital.  The opportunity to invest in Pivotal also provides diversity to client portfolios via an exposure to the multi-billion dollar semiconductor industry. Our clients appreciate having access to companies of this calibre and we are thrilled to be involved”. Mr Kells said.

Pivotal Systems is a leading developer of innovative gas flow control solutions to the semiconductor industry, providing semiconductor manufacturers with significant yield, cost and output benefits and enabling the manufacture of more advanced semiconductors.