DLA Piper advises Kleos Space on the first ever Australian Stock Exchange IPO by a Luxembourg based company

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DLA Piper has advised the Luxembourg based company "Kleos Space" on its initial offer to investors on the Australian Stock Exchange that floated last week

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04/09/2018 |
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The offer comes in the lead-up to the planned launch of the company’s first satellite, built by Danish cubesat manufacturer GomSpace, in mid-2019, to detect radio transmissions and pinpoint their origin and timing. Kleos Space offers satellite technology which responds to Governments needs for new technologies to support to enhance border and maritime security.

DLA Piper Luxembourg and DLA Piper Australia worked closely together. Partner David Ryan led the Australian team along with special council, Kelly Morrison and solicitor Amina Karcic. Partner Catherine Pogorzelski led the Luxembourg team along with partner Laurent Massinon and senior associate Ambroise Foerster, supported by finance, regulatory and corporate lawyers.

Ms Pogorzelski said that the space industry is key for Luxembourg. With its different initiatives and commitments, the country aims at contributing to the peaceful exploration and sustainable utilization of space resources. " The firm is proud having supported the first ever Luxembourg issuer whose instruments are admitted to listing and trading on the Australian Stock Exchange and we are delighted to partner with Kleos Space on their move from a start-up to an emerging corporate."

Mr Ryan said the cross border nature of the equity raising highlighted the international capability of DLA Piper and also positioned the firm well to work with the burgeoning space industry in the future. “To be working with a business that operates in such an interesting area, with such substantial opportunities for growth is exciting and it’s also fantastic to be able to provide value to a client such as Kleos as it seeks international connections.”

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