Qualitas lists on IPO with $335m

12 January 2022 By Naomi Neilson

Alternative real estate investment manager Qualitas has secured its initial public offering of fully paid ordinary shares.

Firm: MinterEllison (Qualitas)

Deal: MinterEllison has advised longstanding client Qualitas on its initial public offering of fully paid ordinary shares. With a market valuation of over $700 million, the float is “one of the largest IPOs in Australia” within 2021.

Value: $335 million.


Area: IPO.

Key players: The team was led by partners Alberto Colla and Bart Oude-Vrielink.

Deal significance: Qualitas’ IPO raised a total of $335 million from institutional and retail investors. The offer price was $2.50 per share with a pro forma market capitalisation on listing of $735 million. The management team and shareholders hold shares equivalent to approximately 54 per cent of total shares on issue.

Proceeds from the successful offer will be used primarily to fund co-investments to grow Qualitas’ funds under management and to provide balance sheet capacity to underwrite, bridge and warehouse time-sensitive investment opportunities.

Commenting on the deal, Mr Colla said: “We were delighted to support the Qualitas board, its management team and other advisors to deliver this IPO and listing. Coordinating a large national team to help deliver this IPO within the rapidly closing window for calendar 2021 was especially gratifying.


“The fact that this IPO was successfully completed in the midst of a number of other floats being withdrawn is a testament to the market’s resourcing endorsement of Qualitas and the underlying value of this investment offering.”


Qualitas lists on IPO with $335m
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