Gadens has advised Racing and Sports on its initial public offering (IPO) and its successful listing on the Australian Securities Exchange (ASX) under the name of RAS Technology Holdings.

Founded in 1999, Canberra-based Racing and Sports powers the data which sits behind a wide range of Australia’s betting operators, including Tabcorp, Ladbrokes, Bet365, Sportsbet, Betfair and BlueBet.

Commenting on the successful listing, partner Jol Rogers said:

“The Gadens team is delighted to have supported the Board and management of Racing and Sports on its successful IPO and looks forward to seeing the company continue to grow its business internationally.“

The equity capital markets (ECM) team at Gadens has been involved in a number of successful IPOs during the past 12 months, which have included Silk Logistics Holdings and TEK-Ocean Group.

Deal value: $29m raised with approximately $68m market capitalisation on listing.