K&L Gates represented Duratec Limited in the transaction.
Duratec Limited (ASX:DUR) executed its listing on the ASX and successful initial public offer (IPO), the largest in Western Australia in 2020.
Duratec is an Australian engineering and remediation services company that specializes in the protection and remediation of steel and concrete structures and employs 675 personnel operating in the defence, building, natural resources, and industrial and utilities industries.
The AU$52 million raised by the issue of 48 million new shares and the sale of over 57 million sale shares will provide Duratec with working capital to allow the company to fund its future project pipeline and pursue its growth strategy.
Euroz Securities Limited acted as lead manager and underwriter of the IPO. Ernst & Young Strategy and Transactions Limited acted as corporate advisers.
The K&L Gates team advising Duratec was led by corporate and capital markets partner Adam Levine (Picture), senior associate Natasha Augustin and lawyers Ben Kiernan-Green and Cassandra Ferrier.
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