Baker McKenzie acted in the largest ASX IPO so far in 2019.
The firm advised Home Consortium on its $325m IPO. The Australian internally managed property group had a heavily oversubscribed IPO and its shares ended its first day trading up nearly 12%.
“Offering a portfolio of 30 centres across five states under the HomeCo brand, the company has built a sustainable platform anchored by Australia’s leading supermarkets, daily-needs and services enterprises, and delivers a diversity of retail categories including lifestyle, health and wellness, homewares and electronics,” said Antony Rumboll, lead partner.
Rumboll said that the IPO was well supported by investors and that it was “a great honour for Baker McKenzie to be entrusted with such an important transaction for a key client of the firm.” He said that the transaction builds on Baker McKenzie’s long established relationship with Home Consortium.
Rumboll was supported by partners Bryan Paisley, Amrit MacIntyre and David Jones. The Baker McKenzie team also included associates Adam Jeffrey, Caroline Tait, Eric Li, Emily Hunter, Matthew de Cataldo, Elizabeth Athanassios, Janet Cho, and Tatjana Giutronich.
The underwriters were Credit Suisse, Goldman Sachs, and J.P. Morgan Securities. The IPO was supported by a $500m syndicated bank facility provided by domestic and international banks.
Gilbert + Tobin acted for the underwriters. Ashurst advised the financiers.