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Dusk debuts $70m IPO
Herbert Smith Freehills has advised Dusk Group Limited on its initial public offering, raising $70 million.
Emma Musgrave
Firm: Herbert Smith Freehills (Dusk Group Limited)
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Deal: Dusk Group Limited (dusk) has launched an initial public offering (IPO) on the Australian Securities Exchange (ASX).
Value: $70 million
Area: Equity capital markets
Key players: The Herbert Smith Freehills team advising dusk was led by partner Philippa Stone and senior associate Alex Mackinnon, who were assisted by solicitor Jessica Palazzolo and governance specialists, senior associate Lauren Selby and solicitor Jessica Ginberg.
Deal significance: The IPO was priced at $2.00 a share, raising $70 million for a $124.5 million market capitalisation (at the offer price), according to a statement from Herbert Smith Freehills.
Dusk is described as Australia’s leading omni-channel specialty retailer focused on home fragrance products, including candles, reed diffusers, essential oils, electronic diffusers and air purifiers, and fragrance related homewares.
“We are very pleased to have assisted dusk on what is a significant milestone in the life of the company," Ms Stone said.
"It was a great pleasure to work with the company and we look forward to continuing our relationship as they commence their life as an ASX-listed company.”
Mr Mackinnon added, “We congratulate the dusk team on this significant achievement. The IPO process went very smoothly, which was testament to the collaborative approach and hard work from everyone involved.”
