Firms: Ashurst (Baby Bunting Group)
Deal: Baby Bunting Group’s IPO and ASX listing
Value: Based on the offer price of A$1.40, Baby Bunting is raising approximately A$52 million and is expected to have a market capitalisation of approximately A$176 million upon listing.
Key players: The Ashurst team comprised Corey Lewis and Elspeth Arnold (corporate); Ian Kellock and Geoff Mann (tax); Kenneth Nguyen (banking); and Rehana Box (insurance).
Deal significance: According to a release by Ashurst, the IPO and related ASX listing represents an opportunity for Baby Bunting to raise new capital and to allow existing shareholders to sell shares as part of the offer.
Founded in Melbourne in 1979, Baby Bunting operates 33 stores, primarily catering to parents with children from newborn to three years of age. Principal product categories include prams, cots and nursery furniture, car safety, toys, babywear, feeding, nappies and associated accessories.
New shareholders will hold approximately 30 per cent of the shares in the company upon completion of the offer. The senior management team and board members will retain an approximate 37 per cent interest in the company from completion of the offer.
Listing is expected to occur on 14 October.
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