Allens advises Joint Lead Managers on one of Australia's largest IPOs

By Julian Donnan
Capital Markets Energy Oil & Gas

Allens has advised Merrill Lynch and Deutsche Bank as Joint Global Coordinators and Joint Lead Managers and UBS as a Joint Lead Manager on the IPO of Viva Energy Group Limited, Australia's largest IPO over the last four years.

Viva Energy listed on ASX with a market capitalisation of $4.9 billion, based on a raising of $2.65 billion at an offer price of $2.50 per share.

Viva Energy is one of Australia's leading energy companies, with strategic infrastructure assets utilised to refine, store and distribute fuel and speciality petroleum products across Australia.

The IPO provided Viva Energy with access to capital markets, improvements in capital management flexibility, an increase in its profile, as well as providing a liquid market for shares and an opportunity for others to invest. It also provided Vitol Investment Partnership with an opportunity to realise a portion of its investment in Viva Energy.

'We are pleased to have advised the Joint Lead Managers on this historic IPO,' said lead Partner Julian Donnan.

'Whilst a number of other large prospective IPOs did not result in a listing over the last few years for a range of reasons (such as trade sales), it was particularly pleasing to see Viva Energy commence trading.

'We see the successful IPO as evidence that there is significant market capacity to support further issuance, a positive backdrop for other companies considering a listing.'

Allens also acted for Merrill Lynch and Deutsche Bank on the $911 million IPO of Viva Energy REIT, which was floated by Viva Energy in 2016.


Allens legal team

Julian Donnan (Lead Partner), Rob Pick (Partner), Addison Ma (Senior Associate), Yan-Lin Lee (Senior Associate)


Notes for editors.

Allens is a commercial law firm working throughout Australia and Asia. Through its integrated alliance with Linklaters it provides clients access to 40 offices in 28 countries around the world.