Wilsons Advisory was pleased to act as Joint Lead Manager to CleanSpace Holdings Limited $131.4 million Initial Public Offering (IPO). Shares in the company were issued at $4.41 per share and the first day of trading saw shares close up 68% at $7.42 per share. The IPO positions the business to capitalise on its leading technology and market opportunity, and is the next step in providing financial flexibility and enabling the company to execute on its growth strategy.
Head of Corporate Finance Rob Snow said, “Wilsons Advisory are pleased to have been able to support another great business with its listing on the ASX. CleanSpace demonstrates that there is strong investor interest in innovative healthcare technology opportunities.”
Founded in Australia in 2009 by a team of biomedical engineers, CleanSpace manufactures respiratory protection equipment for workers in the healthcare and industrial sectors. Throughout the COVID-19 pandemic, CleanSpace reported a fourfold increase in demand for its respirators, and the company continues to grow with international approvals and established domestic and offshore teams supporting sales of a product portfolio to large healthcare and industrial RPE markets. 80% of masks produced by CleanSpace go overseas. Chief executive Alex Birrell said, the battery-powered masks are 10 times more effective at filtering particles than standard N95 masks used in many hospitals.
CleanSpace’s success is due in large part to their innovative technology which incorporates miniaturisation (size and weight), smart pressure driven algorithms, intuitive function and unique neck mounted design, to achieve the highest level of protection. In the last 10 years they have continued to invest in research and development programs resulting in differentiated design and approved products that provide compelling employer and user benefits, namely higher protection with improved compliance and productivity.
Wilsons Advisory is looking forward to assisting CleanSpace in the next phase of its journey as a listed company.
For more information contact:
Head of Corporate Finance, Rob Snow
rob.snow@wilsonsadvisory.com.au / (02) 8247 6645
Head of Corporate Finance Origination, Richard Sherman
richard.sherman@wilsonsadvisory.com.au / (03) 9640 3879
About Wilsons: Wilsons is a financial advisory firm focused on delivering strategic and investment advice for people with ambition – whether they be a private investor, corporate, fund manager or global institution. Its client-first, whole of firm approach allows Wilsons to partner with clients for the long-term and provide the wide range of financial and advisory services they may require throughout their financial future. Wilsons is staff-owned and has offices across Australia.
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