The Freelancer IPO Is Done: Here's Who Was Hand-Picked To Be A Shareholder

Matt BarrieMatt Barrie / Supplied

Matt Barrie’s Freelancer.com has finished allocating the 35.1 million shares in its IPO ahead of trading on the ASX on Friday.

The IPO opened on October 22 and closed, oversubscribed, on November 6 – a day earlier than expected.

A total of 30 million shares were available to the general public, and a further 5.1 million were offered to eligible employees, adding to a total of 436 million shares on issue at $0.50 a share.

Freelancer said shares would be allocated “at the discretion of the board of directors” following “extremely strong demand from retail, sophisticated and institutional investors”.

Here’s who ended up with a piece of the pie:

  • Caledonia Investments (major investor in Zillow, Inc.), which applied for and was granted $3 million of shares
  • JBS Investments
  • Cadence Capital
  • LHC Capital
  • Wilson Asset Management
  • Chermon Pty Ltd (a subsidiary of Consolidated Press Holdings Limited)
  • Joel Sng (founding investor in Facebook, Inc.)
  • the SEEK Limited founders & management team (Andrew Bassat, Paul Bassat and Jason Lenga)
  • Brad Shofer (co-founder of MYOB Limited, investor in Xero Limited)
  • Lind Partners LLC (founding investor in Kickstarter. Inc.)
  • Milford Asset Management (investor in Xero Limited)
  • KIS Capital Partners
  • Josh Liberman (LJCB investment group, early stage investor in SEEK Limited)

The IPO gives Freelancer.com a market capitalisation of $218 million.

Freelancer said today that its directors and employees collectively acquired 4 million additional shares of the 30 million made available to the public in the general offer.

The company will have more than 600 shareholders at the time of listing, with about 90% held by directors, management of employees.

The listing was underwritten by KTM Capital, with Watson Mangioni Lawyers as legal advisor to Freelancer.

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