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Revasum Gets Closer to IPO

November 14, 2018 Business News No Comments Email Email

Revasum (the “Company” or “Revasum”), a growing semiconductor equipment manufacturer, today lodged a prospectus with the Australian Securities and Investment Commission (“ASIC”) for its initial public offering (“IPO”) and applied to the Australian Securities Exchange (“ASX”) for the listing of its shares (in the form of CHESS Depositary Interests or CDIs) under the code ASX:RVS.

The offer to raise A$30.7 million before fees, is fully underwritten at an offer price of A$2.00 per share. Moelis Australia Advisory Pty Ltd and Shaw and Partners Limited will act as Joint Lead Managers and Underwriters, to the IPO.

Revasum designs and manufactures the equipment needed to power our modern world.  Every year, our devices get smarter and smaller. This trend is only possible because of technology called CMP (Chemical Mechanical Planarization) and Grinding, which are used in the semiconductor device manufacturing process. Semiconductors are a key component in almost all modern electronics, including various kinds of communication, mobile phones, computing, internet of things (IoT) enabled devices and automotive components.

“We are thrilled that Revasum’s IPO on the Australian Securities Exchange is generating excitement,” said Jerry Cutini, CEO of Revasum.

“It has been an exciting journey working towards the completion of the IPO process and the imminent listing of Revasum on the ASX is a crucial next step for the Company. Revasum is developing new semiconductor equipment technology and the IPO, will allow the business to expand into new global markets and capitalize on new opportunities.”

Growth in the global semiconductor market is primarily driven by the growth in end-use markets including computing, communications, automotive, IoT and mobile phones. IC Insights forecasts growth in the semiconductor market to continue over the next five years to US$570 billion of revenue in 2022, representing a CAGR of 5.4%.

Revasum will use funds raised under the IPO to invest in new product development and capital projects and fund expansion including sales and marketing activities, while the ASX listing will enhance Revasum’s profile by becoming a listed company.

The IPO is expected to close at the end of November of this year and the CDIs will be tradeable in early December upon the ASX approving Revasum’s listing.

JERRY CUTINI – CEO REVASUM

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