LAW firm Freehills is advising Goldman Sachs JBWere on its underwriting of Valad Property Group’s capital raising, announced today, of up to approximately A$59.5 million.
The firm said the Offer will be by an accelerated non-renounceable entitlement offer to Valad’s existing securityholders to raise up to approximately A$40.2 million.
It would also include a placement to institutional investors to raise up to approximately $19.3 million.
The Freehills team includes partner Tony Sparks, senior associate Daniel Scotti and lawyer Jeremy Chew.
Freehills partner Tony Sparks said: “A novel aspect of this deal was that the issuer used the proceeds of the Offer to settle a specific deferred liability to the vendors of a business acquired in 2007.”
Freehills recently advised the underwriters of capital raisings by Challenger Diversified Property Group, Australand Property Group and DEXUS Property Group, and acted for FKP Property Group in its capital raising.