NEWS

Allens side by side with clients raising more than $4 billion of capital

Capital Markets Financing Private Equity Securities & Alternative assets

The Allens Capital Markets team has worked closely with multiple long-standing clients in recent weeks on transactions that have raised more than $4 billion of capital.

In the current economic uncertainty, a number of companies have turned to the capital markets to raise fresh equity. Allens has been working side by side with clients to assist them through this process.

Since the beginning of April, Allens has advised:

  • IDP Education on its $240 million placement and share purchase plan;
  • Reece on its $600 million placement, accelerated renounceable entitlement offer and share purchase plan;
  • Oil Search on its $1.16 billion placement and accelerated renounceable entitlement offer;
  • G8 Education on its $301 million placement and accelerated renounceable entitlement offer;
  • UBS and Macquarie as the underwriters of Flight Centre's $701 million placement and accelerated renounceable entitlement offer;
  • QBE on its $1.2 billion placement and share purchase plan; and
  • Bapcor on its $180 million placement and share purchase plan.

'In this period of uncertainty, we value the opportunity to help our long-standing clients raise equity that will assist them to move through the current disruptions to their businesses and be in the best position to thrive when economic conditions improve,' said Partner Robert Pick, the Melbourne-based Co-Head of the Allens Capital Markets team.

Partner Julian Donnan, the Sydney-based Co-Head of the Allens Capital Markets team, added: 'While capital raisings remain beholden to market conditions and investor appetite, the Australian regulatory environment – including the recent temporary changes introduced by ASIC and ASX – continues to facilitate an effective environment for ASX-listed issuers to raise capital quickly, efficiently and with certainty.'

Allens legal team

Corporate

Robert Pick (Partner), Julian Donnan (Partner), Richard Kriedemann (Partner), Chelsey Drake (Partner), Stuart McCulloch (Partner), Addison Ma (Senior Associate), Adrian Amer (Senior Associate), Patrick McGregor (Senior Associate), Tom Hall (Senior Associate), Nick Twomey (Associate), Elise Blume (Associate), Lisa Gao (Associate), Natasha Ng (Associate), Aidan Shanley (Associate), Keenan Chiu (Associate), Jewell Zhu (Associate), Dixon Song (Associate), John Jacob (Associate) and Jack Baldwin (Lawyer).

Ends

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.