Global law firm DLA Piper has advised Tubi Limited (ASX: 2BE)on its AUD48.5 million initial public offering (IPO) and listing on the Australian Securities Exchange (ASX).

Founded in 2009 by Marcello Russo and headquartered in Sydney, the company has developed a unique proprietary technology for modular mobile manufacturing plants for the production of High Density Poly Ethylene (HDPE) pipes (Mobile Plant) and uses the transportable Mobile Plant to manufacture HDPE pipe for industrial projects in remote locations.

Since 2017, Tubi has produced more than 14,000 tonnes of pipe in New Zealand and the United States using the Mobile Plant. The company operates one Mobile Plant which is currently being operated in the Permian Basin in Texas, with four new Mobile Plants under construction.

The DLA Piper team was led by Head of Corporate Sydney David Ryan with special counsel Kelly Morrison, partners Nicholas Turner and Nicholas Boyle, senior associates Elliott Cheung and Clancy King and solicitors Tun Yeo, Ellie Harding, Jamie Crosbie and Valiant Warzecha.

Lawyers from DLA Piper's Silicon Valley office, Austin and San Francisco offices were also involved, including Partners Cisco Palao-Ricketts, Ute Krudewagen, William Hoffman and Dean Fealk and associate Georgia Jolink.

David Ryan said: "Tubi has a clear and ambitious growth strategy, and we are delighted to advise them on this IPO and ASX listing as they continue to build their market presence and invest in new technologies. It was another opportunity for DLA Piper to showcase its strength in equity capital market transactions and to leverage its global network to achieve a great result for our client."

Tubi listed on the ASX on 14 June 2019 with an indicative market capitalisation of approximately AUD48.5 million.

The deal was fully underwritten by lead manager KTM Capital Pty Ltd.