Pyrolyx AG Becomes First German Company to List on the ASX
Baker McKenzie advises on first-ever Australian IPO of a German company - Pyrolyx AG (the Pyrolyx Group). The Pyrolyx Group is a global market leader in the recycling of carbon black from used tyres. Recovered carbon black (rCB) is used for the production of new tyres and in the masterbatch and technical rubber industry. The Pyrolyx Group operates a state-of-the-art rCB plant in Germany and is utilising the proceeds of the IPO to expand into the USA.
Baker McKenzie partner, Steven Glanz stated: "We are increasingly being asked to assist foreign companies trying to access Australian capital markets and are delighted to act for the Pyrolyx Group in this ground breaking exercise by a German company."
The other capital markets partner on the transaction, Lauren Magraith commented: "Listing a German company on the ASX with different governance and capital structures involved many novel issues which we worked through successfully with ASX. Pyrolyx will have its primary listing on the ASX, with a secondary listing on the Xetra OTC German Stock Exchange."
Steven and Lauren were assisted on the transaction by Special Counsel Hoda Nahlous and associates Ivo Basoski and Matthew De Cataldo.