Equity Capital Markets
A successful capital markets transaction needs to achieve its financial objectives within the financial and legal parameters in this jurisdiction and globally. We are renowned for providing innovative advice on new and existing financial structures and financial products. We have acted for many listed corporations in their equity capital markets transactions and have excellent working relationships with the Australian Securities & Investments Commission, the Australian Securities Exchange and the Australian Prudential Regulatory Authority.
Our team has a deep understanding of the specific requirements and approaches taken by issuers, underwriters and “cornerstone” investors in initial public offering (IPO) transactions. We also act on difficult and strategic capital management matters, including advising listed companies looking to undertake on-market buy-backs, entitlement offers or underwritten dividend reinvestment plans.
- Conducting initial public offerings.
- Establishing and structuring listed and unlisted managed funds.
- Advising on subsequent offerings including rights issues (including accelerated entitlement offers), private placements, share purchase plans, DRP underwritings and on the establishment of share and interest sale facilities.
- Advising on block trades.
- Advising on the structuring of complex capital instruments, such as debenture and hybrid offerings.
- Advising on capital management strategies, including buy-backs and capital reductions.
- Debt capital markets and securitisation – on various programme establishments, drawdowns, credit-wrapped notes, US private placements and Islamic bonds.
Our experience includes advising:
- Viva Energy Group Limited on its successful IPO and listing on the Australian Securities Exchange - the largest IPO in Australia for four years and the largest non-government IPO in Australian corporate history.
- Yancoal Australia Ltd on its dual primary listing on the Main Board of the Hong Kong Stock Exchange and associated capital raising (including Australian rights offering and Hong Kong IPO).
- Goldman Sachs, UBS, Credit Suisse and Bell Potter as joint lead managers of Coronado Global Resources Inc.'s $774 million IPO and ASX listing.
- Goldman Sachs as sale agent for the share sale facility established in connection with the $16 billion demerger of Coles Group Limited from Wesfarmers.
- Sonic Healthcare Limited on its fully-underwritten $600 million institutional placement and non-underwritten $100 million share purchase plan to fund its $750 million acquisition of US-based Aurora Diagnostics.
- J.P. Morgan and Macquarie Capital on their underwriting of Reliance Worldwide Corporation’s $1.1 billion accelerated non-renounceable entitlement offer to fund its acquisition of John Guest.
- Citi as lead manager of a $285 million institutional placement by Appen Limited.
- UBS and Goldman Sachs (as Joint Lead Managers) on Bingo Industries' $425 million accelerated non-renounceable entitlement offer, in connection with its acquisition of Dial A Dump Industries.
- UBS and Morgan Stanley on their underwriting of Primary Health Care’s $250 million accelerated non-renounceable entitlement offer.
- Xero Limited in respect of its Convertible Note offering to raise $US300 million and associated call option transactions.
- IOOF in respect of its acquisition of ANZ’s wealth management business, and the associated capital raising.
- Citi as lead manager and underwriter of a $297 million institutional placement by NEXTDC Limited.
- Syrah Resources on its placement to raise $95 million.
- Euroz and Morgans as the joint lead managers of a $331 million rights issue plus two-tranche placement by Sundance Energy Australia.
Awards + Recognition
Ranked Band 1 for Capital Markets: Equity.
Ranked Tier 1 for Capital Markets: Equity.
Ranked an ‘Outstanding’ firm in the Asialaw Profiles 2019. Also ranked ‘Outstanding’ in Capital Markets, M&A, Private Equity, Competition/Antitrust and Dispute Resolution.
Advised on Equity Market Deal of the Year.