Herbert Smith Freehills has advised Mitula Group Limited (Mitula Group) on its successful initial public offering (IPO) and listing on the ASX on 1 July 2015 with a market capitalisation of A$154 million at the offer price.

Mitula Group is a leading vertical search website operator, currently with a portfolio of 51 websites operating in 38 countries and in 14 languages. The websites’ vertical search functionality allows users to search for real estate, automotive, employment, and in some countries, holiday rental classifieds listings, from multiple advertisers through a single search query.

Melbourne based partner Michael Ziegelaar, co-head of Herbert Smith Freehills’ market leading equity capital markets team, senior associate Nick Golding and solicitor Andrew Earle advised Mitula Group.

Gonzalo del Pozo, Chief Executive Officer of Mitula Group said: “We are very pleased with the outcome of our IPO. We are new to the ASX and the Australian legal regime and the team at Herbert Smith Freehills did a great job of guiding us through the Australian listing process.”

Michael Ziegelaar said: “It was a pleasure to work with such a highly driven board and management team who are very passionate about their business. We wish Mitula Group every success as a listed company and look forward to continuing to work with them in the future.”

Baillieu Holst Ltd acted as Lead Manager and Underwriter on the offering.