G+T is advising Australian founder-led, direct-to-consumer furniture company Koala on its initial public offering (IPO) and proposed listing on the Australian Securities Exchange (ASX), marking a pivotal step in the company’s evolution from start-up disruptor to ASX-bound growth company.
Under the fully-underwritten offer, Koala will raise approximately $68 million, implying an initial market capitalisation of around $305 million. The Offer comprises the issue of new shares and the sale of existing shares, marking a significant milestone in Koala’s evolution as it transitions to public markets.
Founded in 2015, Koala has grown from a start-up mattress disruptor into an internationally operating furniture business with a core focus on sitting furniture, including sofas and sofa beds, supported by its mattress range and other home categories. The company operates a direct-to-consumer model across Australia, Japan, the United States and, most recently, the United Kingdom.
G+T has advised Koala on the preparation and lodgement of its IPO prospectus and the broader listing process, guiding the company through the complexities of transitioning to public markets. G+T is extremely proud to have worked alongside Koala over many years and is thrilled to have been part of this transaction.
Lead partner Adam D’Andreti said the lodgement of the prospectus represents a defining milestone in Koala’s growth trajectory.
The lodgement of the prospectus and successful IPO pricing is not only a massive milestone for Koala but a remarkable achievement given the heightened volatility in global capital markets at present. Koala has evolved from a category disruptor into a scaled, international business with a clear growth agenda. This step signals real confidence in its operating model and in the appetite for high-quality consumer brands entering public markets.
G+T is proud to have supported Koala team over several years as it prepared for public markets and to continue alongside the company as it progresses towards listing.
The G+T team advising Koala is led by Adam D’Andreti and Lucy Hall and includes Catherine Wei and Laura Worrad, who have advised across disclosure, governance, structuring and regulatory matters.
Koala’s proposed listing is expected to broaden its shareholder base, provide liquidity for some existing shareholders and provide access to public capital markets to support its continued growth strategy across established and emerging markets.
Full details about the Offer are contained in the Prospectus dated 13 March 2026 issued by The Koala Company Limited ACN 619 538 671 and Koala SaleCo Limited ACN 695 286 634. The Prospectus is available in electronic form to Australian residents on the Company’s offer website, ipo.koala.com. The Offer constituted by this Prospectus in electronic form is available only to Australian residents accessing the website within Australia and is not available to persons in any other jurisdictions, including the United States. A hard copy of the Prospectus is available free of charge during the Offer Period to any person in Australia by calling the Koala IPO Offer Information Line on 1300 429 179 (within Australia) or +61 2 7208 4522 (outside Australia) between 8:30am and 7:00pm, Monday to Friday. Applications for Shares may only be made on the Application Form attached to, or accompanying, the Prospectus in its hard copy form, or in its soft copy form available online at ipo.koala.com, together with an electronic copy of the Prospectus. The Corporations Act prohibits any person from passing the Application Form on to another person unless it is attached to, or accompanied by, the Prospectus in its paper copy form or the complete and unaltered electronic version of this Prospectus. A person should consider the prospectus in deciding whether to acquire the securities.
