Firms: Gilbert + Tobin (Nine Entertainment Co); King & Wood Mallesons (joint lead managers); Sidley Austin (US counsel for Nine); Sullivan & Cromwell (US counsel for joint lead managers)
Deal: Nine Entertainment’s initial public offering (IPO)
Area: Equity capital markets
Value: Nine issued approximately $697 million of shares, implying an enterprise value of Nine at between $2.53 billion and $2.77 billion
Key players: Capital markets partners Peter Cook (pictured) and Rachael Bassil led the G+T team and were supported by partner Rachel Launders and lawyers Adam D’Andreti, Roisin Kennedy and Jonathon Yeung, as well as lawyers from across the firm. The KWM team was led by M&A partners David Friedlander and Shannon Finch, who were supported by senior associate Amanda Isouard and solicitor Robert Garritano
Deal significance: This is one of the most significant and largest IPOs in the Australian market in the last couple of years. Shares in Nine are scheduled to begin trading on the ASX on 6 December.
G+T partner Peter Cook commented on the transaction: “It was a pleasure to have advised Nine, one of our long-standing and key clients, on their IPO. This is a significant step for the company, its shareholders and management. This follows a number of important transactions we have advised Nine on over the last 12 months, including the $3.4 billion debt restructure in February.”
KWM partner David Friedlander said: “We are delighted to have worked on this transformative transaction for Nine Entertainment, at a time when the IPO market is coming back to life.”