QANTM Intellectual Property Ltd, the owner of Davies Collison Cave and Freehills Patent Attorneys, began trading on the Australian Securities Exchange on August 31, 2016, under the ticker code QIP. Trading began following the company’s initial public offering, which was priced at A$2.22 per share (US$1.70) and raised gross proceeds of A$146.7 million (US$112.4 million). After reaching A$2.48 on September 1, the stock settled a bit lower, closing at A$2.38 on September 30. QANTMCEO and managing director Leon Allen said that the firms will continue to operate on a standalone basis. “The IPO is an exciting milestone and will provide both firms with increased financial flexibility to pursue selective and complementary acquisitions, and to retain and attract high-quality people,” he said.

Qantm is the second-largest Australian IP law firm behind IPH Limited, the first IP services group to list on the ASX. IPH acquired Spruson & Ferguson in 2014, had a successful IPO in November 2014 and, in 2015, acquired Fisher Adams Kelly, Callinans and Pizzeys Patent and Trade Mark Attorneys.