hipages completes $100m IPO

By Tony Zhang|22 November 2020

Ashurst has advised on the $100 million hipages IPO with Goldman Sachs.

Firm: Ashurst (hipages).

Deal: Global law firm Ashurst has advised hipages Group Holdings Limited on its initial public offering (IPO) to raise $100.4 million and listing on the ASX. 

hipages is an Australia-based online platform and software as a Service provider that connects tradespeople with residential and commercial consumers.


Value: $100.4 million.

Area: Capital markets. 

Key players: The Ashurst team was led by Anton Harris and consisted of partners Nigel Deed, Andrew Kim, counsel Michael Dearden and lawyers Dillon Fuzi, Ben Lyttle, Selena Tang, Jack Jones, David Tilley and Davy Hu.

A number of practice groups within the firm across the globe assisted including team members from banking, competition, digital economy, employment and insurance. We had team members from London, Hong Kong and Singapore assist with this transaction.

Deal significance: The IPO was fully underwritten by Goldman Sachs and comprised an offer by hipages of approximately 41 million new shares at $2.45 per share, with existing shareholders being issued 89 million shares. 


The offer under the IPO closed on 4 November 2020, with hipages listing on the ASX on 11 November 2020. Shares commenced trading on 12 November 2020.

Successful completion of the IPO positions hipages to take advantage of powerful digital and community trends that will drive increased demand for its solutions. 

The net proceeds of the offer are being used to drive future growth through investment in hipages’ brand and technology platform, as well as facilitating expansion into new channels and adjacent opportunities.

“We are delighted to have advised hipages on this significant transaction. The achievement of a listing on the ASX is a significant milestone and reflects the growth and success of the business since its inception in 2004. We look forward to seeing the continued growth and success of hipages in its journey as a listed company,” Mr Harris commented.

hipages completes $100m IPO
Intro image
lawyersweekly logo
Big Law


How utilising cryptocurrency has paid off for this law firm

How utilising cryptocurrency has paid off for this law firm

Malcolm Gittoes-Caesar

Partners ‘have to have compassion’

Natalie Lonergan and Tatiana Gotvig

Squires lands team of 4 from NRF 

The rise of state-based class action regimes

The rise of state-based class action regimes

Recommended by Spike Native Network