QANTM LISTS ON AUSTRALIAN SECURITIES EXCHANGE
AND EXCEEDS FY16 PROSPECTUS FORECASTS
31 August 2016
QANTM Intellectual Property Limited (QANTM), the holding company for leading Australian Intellectual Property (IP) services firms Davies Collison Cave (DCC) and FPA Patent Attorneys (FPA), has today completed its initial public offer (IPO) and will commence trading on the Australian Securities Exchange (ASX) at approximately 12.00pm AEST. QANTM will trade under the ticker code ‘QIP’.
With a strong history of profitability, DCC and FPA are two of Australia’s leading IP firms, providing services in relation to the creation, protection, commercialisation, enforcement and management of IP rights to Australian and international clients. The firms operate in a growing market where demand for their services is underpinned by increasing client R&D expenditure and where the effective legal protection of IP is regarded as a key strategic priority.
The IPO, which was priced at $2.22 per share, raised gross proceeds of $146.7 million and was strongly supported by institutional and retail investors. The IPO price represents an FY17 price:earnings multiple of 16.5x and QANTM has forecast an annualised dividend yield of 4.9% for FY17 which it expects to be fully franked.
FY16 results
QANTM today also confirms that its pro forma FY16 results have exceeded the forecasts provided in the company’s prospectus. The results, excluding Foreign Exchange (FX) gains, were in line with the forecast, however EBITDA exceeded the forecast due to FX gains achieved during the period.
Leon Allen, CEO and Managing Director of QANTM, commented:
“Both Davies Collison Cave and FPA Patent Attorneys have leading positions in the growing intellectual property services market in Australia and see good potential for further growth in Asia. While the firms will continue to operate on a standalone basis, they share common business philosophies and a shared commitment to providing premium IP services to blue-chip local and international clients.
“The IPO is an exciting milestone and will provide both firms with increased financial flexibility to pursue selective and complementary acquisitions and to retain and attract high-quality people.
“We are also pleased to announce that QANTM has delivered FY16 results ahead of the company’s prospectus forecast, reflecting the hard work and commitment of our team and the delivery of great results for our clients.
NOTES TO EDITORS
About QANTM Intellectual Property
QANTM (ASX:QIP) is the Australian Securities Exchange-listed holding company for leading Intellectual Property (IP) firms Davies Collison Cave and FPA Patent Attorneys. The firms, which continue to operate as standalone businesses, offer their clients a suite of related services associated with the creation, protection, commercialisation, enforcement and management of IP rights.
About Davies Collison Cave
With a history that can be traced back to 1879, Davies Collison Cave is today one of the largest patent and trade mark attorney firms in Australia, providing a wide range of services in relation to the creation, protection, commercialisation, enforcement and management of its clients’ IP.
Offering patents, trade marks and legal services, the firm operates from three primary offices in Sydney, Melbourne, Brisbane, and maintains a presence and ongoing access to offices in Newcastle, Geelong, Greater Western Sydney, Hobart, Launceston, Adelaide and Canberra. The firm recently opened an office in Singapore in line with its Asian growth strategy.
About FPA Patent Attorneys
Established in 1994, FPA Patent Attorneys provides expert advice on the creation, management, enforcement and commercialisation of IP rights, including patents and designs for local and international clients. FPA Patent Attorneys offers access to Australia’s best IP litigators and commercial practitioners and to all other related areas of commercial law including competition and anti-trust, tax, mergers and acquisitions, venture capital and equity capital markets.
QIP Price at posting:
$2.22 Sentiment: Buy Disclosure: Held