Global business law firm DLA Piper has advised US-based medical device company GI Dynamics, Inc on its Initial Public Offering (IPO), US private placement and listing on the Australian Securities Exchange (ASX). With a market capitalisation of about $304 million, GI Dynamics represents the largest float in Australia this year.
GI Dynamics raised AUS$80 million through its successful offers and is using the funds to expand the global commercialisation of its flagship type 2 diabetes and obesity treatment product, the EndoBarrier®, which is a non-surgical product which mimics the effect of gastric bypass surgery.
CHESS Depositary Interests or CDIs in GI Dynamics commenced trading on 7 September 2011 on the ASX under the stock symbol “GID.”
DLA Piper acted as the Australian legal advisor to GI Dynamics in the preparation and launch of the IPO and listing on the ASX, advising across corporate, tax and intellectual property matters.
The DLA Piper Australia team was led by Joint Head of Corporate – Asia Pacific, David Morris and Corporate partner Catherine Merity with solicitors Nicole Sloggett, Jack Schmidtke and Emma Harnett in Corporate, Intellectual Property & Technology partner Alec Christie and Tax partner Jock McCormack and senior associate Anshu Maharaj.
The team was also assisted by DLA Piper and affiliate lawyers from Hong Kong, Singapore, London and Wellington.
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