Gilbert + Tobin has advised leading marketing services group Photon Group Limited on its $115 million capital raising, through an institutional placement and rights issue, both fully underwritten by Morgan Stanley.

Mallesons acted for the underwriter, Morgan Stanley.

Photon Group is looking to raise $87.9 million via a one-for-two rights issue to shareholders and has raised $26.6 million via an institutional placement, both fully underwritten by Morgan Stanley.

Key Players:

Gilbert + Tobin's team was led by Partner Philip Breden and capital markets Partner Janine Ryan.

Mallesons' lead partner on the transaction was David Eliakim (pictured right).

Commentary:

"One of the key elements of the capital raising was securing commitments from the major institutional investors upfront to participate in the entitlement offer. We assisted in structuring and documenting these arrangements," Eliakim said.