Becketts Lawyers has advised SCX.ai Holdings Limited (SCX) on its successful initial public offering (IPO) and listing on the Australian Securities Exchange (ASX), marking a significant milestone as Australia’s first ASX-listed purpose-built sovereign AI infrastructure company.
The IPO raised $40 million, with SCX achieving a market capitalisation of $75 million at listing.
Since its incorporation in 2025, SCX has moved swiftly to establish the foundations of its sovereign AI infrastructure platform. Key milestones have included the execution of critical technology and infrastructure agreements, acquisition of AI hardware, and the installation and deployment of its Node 1 at the SY5 Equinix Data Centre in Sydney. SCX also completed a senior, secured pre-IPO convertible note raise in April 2026, which Becketts also acted on.
“SCX’s successful IPO and ASX listing is a testament to the quality of its business and leadership team, and to the strong demand for sovereign AI services in Australia. It was a pleasure working with co-founders David Keane and Tom Amos and the broader SCX team, together with Joint Lead Managers Canaccord Genuity and Henslow, and Investigating Accountants RSM. We were delighted to advise on the IPO and SCX’s pre-IPO raise and look forward to the next chapter from David and team.” — Nick Golding, Partner, Becketts Lawyers
“Nick and the team at Becketts Lawyers played a pivotal part in our successful IPO and admission to the ASX. SCX is the first AI inferencing-as-a-service company to list on ASX, an emerging and fast-moving industry. Nick and his team took on the challenge and delivered, guiding us through the IPO in a professional and transparent manner. We are very appreciative of their contribution to what has been a successful outcome.” — Wayne Stevenson (Chair) and Tom Amos (Co-Founder & Director), SCX
The Becketts Lawyers team was led by Partner Nick Golding, with support from Whitney Gerrans (Lawyer) and Will Fernandez (Graduate).