King & Wood Mallesons (KWM) has advised Global Traffic Network (GTN) on its proposed initial public offering, which priced at $1.90 or a price-to-earnings multiple of fifteen times. The company is expected to list with a market capitalisation of $383 million.

GTN is a broadcast media advertising platform operating in Australia, Canada, Britain and Brazil. It provides traffic news to radio and television stations in exchange for embedded advertising spots, which it sells to advertisers.

The listing marks the first Australian IPO exit by Chicago-based private equity firm, GTCR.

The KWM team was led by partner Evie Bruce, supported by senior associate Anthony Boogert and lawyers Luke Mulcahy and Thomas Brunskill.

Commenting on the deal, KWM partner Evie Bruce said, “We’re delighted to support GTN on their Australian listing, which is a significant milestone for the company.”