OverviewThe Hall & Wilcox Equity Capital Markets team has experience in all forms of capital raising and capital management strategies. This experience translates into technical expertise in equity capital markets transactions and the ability of our team to provide creative solutions and effective structures in response to the challenges of raising equity in today's market. This includes.
- initial public offerings and ASX listings;
- back door listings;
- retail and institutional offerings and placements;
- rights and entitlement offers (including accelerated entitlement offers);
- share purchase plans and dividend reinvestment plans (DRPs);
- establishing managed investment funds;
- stapled security structures; and
- employee incentive plans, including option plans, share plans and share loan plans.
We are able to provide clear, commercial advice on the development and structuring of capital raising alternatives, in particular:
- advising on legal and regulatory requirements and obtain regulatory relief from the ASX and ASIC as necessary;
- assisting with the convening of shareholder meetings and preparing documentation required to obtain shareholder approval;
- preparing disclosure documentation, eg prospectus, product disclosure statement, information memorandum or cleansing notice; and
- developing and coordinating a due diligence process and advising directors and others involved in the transactions on their potential liability and available defences.
ExperienceWe also have experience in capital restructuring and capital management transactions including:
- share buy-backs and capital reductions;
- share splits and consolidations;
- corporate restructuring qualifying for various types of rollover relief; and
- share sale facilities.
Examples of our team's experience include:
- acting for Admiralty Resources NL in various share placements and the proposed demerger of a subsidiary of Admiralty, Rincon Lithium Limited, and, most recently, the sale (instead of the demerger) of that subsidiary;
- acting for APN Property Group Limited in its initial public offering and listing on the ASX, and subsequent institutional placement and director sell-down, and advising in relation to its DRP;
acting for a large New York based private equity firm in its provision of bridge financing (through convertible notes and other financing instruments) to several Australian resources companies;
- acting for various underwriters (including Bell Potter Securities, Macquarie Equity Capital Markets and UBS) in public capital raisings for a variety of companies;
- acting for CogState Limited, an ASX-listed biotech company, in a non-renounceable rights offer;
- advising Ascend Group Limited on the restructure of the Ascend group to interpose a new holding company between Ascend Asset Management and its then shareholders, the listing of that new holding company on the NSX and the conversion of Ascend Asset Management to a proprietary company (including the related Corporations Act, corporate governance and regulatory requirements applicable to these transactions); and
- acting for APN Funds Management Ltd in the initial public offering and listing on the ASX of the APN European Retail Property Group and the Group's two subsequent non-renounceable accelerated rights offers, institutional placement and underwritten DRP.
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