17/11/2021

Gilbert + Tobin has advised SiteMinder on its successful IPO and ASX listing under which it raised $627 million and debuted on the ASX with a market capitalisation of $1.36 billion.

Founded in Australia in 2006, SiteMinder has grown to become the world’s leading open hotel commerce platform, servicing tens of thousands of hotels across 150 countries from offices across the globe. SiteMinder's innovative platform empowers hotels and accommodation providers to sell, market, manage and grow their business from one place and is ranked among technology pioneers for opening up every hotel’s access to online commerce. In the last year prior to the start of the pandemic, SiteMinder generated more than 100 million reservations worth over US$35 billion in revenue for hotels.

The G+T team was led by Corporate Advisory partners Costas Condoleon and Adam D’Andreti, with support from lawyers Wes Bainbridge, Kevin Zhou, Jessica Liang, Arda Reznikas and Maria Bletsas. The deal team was supported by other lawyers across the Firm.

Costas & Adam said: “SiteMinder is a brilliant success story of Australian innovation and demonstrates that Australia can produce global market leading technology companies. Its IPO and successful debut on ASX's boards reflects the market's confidence in the business. It was our pleasure to have advised them on this significant milestone and we look forward to watching the team continue to succeed”.

G+T also advised SiteMinder on its previous capital raisings in September 2021 and January 2020, which saw SiteMinder breaking through the $1 billion valuation mark to reach the coveted "unicorn" status.

Gilbert + Tobin’s market-leading Corporate Advisory team, which includes leading capital markets lawyers, has advised the issuers on many of the largest IPOs and ASX listings in 2021, including APM, Vulcan Steel, Rubicon Water, Pepper Money, Peter Warren Automotive Group and Australian Clinical Labs. Gilbert + Tobin is ranked Band 1 in ECM by Chambers Asia Pacific, The Legal 500 Asia Pacific and IFLR1000 and has advised on more ECM matters than any other firm in the last six years.