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Largest IPO of the year gets underway

Largest IPO of the year gets underway

Julian Donnan, Allens

Multiple firms have advised on an IPO worth $946 million – Australia's largest so far this year.

Firms: DLA Piper and Allen & Overy (Link Administration Holdings); Allens (Citi, Deutsche Bank, Macquarie Capital and UBS).

Deal: Link Administration Holdings launched a $946 million IPO.

Value: $946 million

Area: IPO

Key players: The Allens team was led by partners Julian Donnan (pictured) and Stuart McCulloch.

The A&O team was led by partner Tony Sparks, with support from partner Jamie Palmer and associates Jonathan Teo, Fayzan Bakhtiar, Connell O’Neill, Ban-Ya Yim and Keara Stretton.

Deal significance: Link Administration Holdings launched a $946 million IPO on the ASX. It is the biggest IPO in Australia this year.

Citi, Deutsche Bank, Macquarie Capital and UBS were the joint lead managers, as confirmed by A&O.

A&O lead partner Tony Sparks said: “Being able to execute this transaction in current volatile markets shows that investors are still receptive to quality issuers with well-structured offers.”

Julian Donnan, partner and co-head of Allens’ capital market practice, said the Link IPO, along with the recent IPO of Aventus Property Group, showed there were positive signs for the capital raising market in Australia.

“Both IPOs are significant and are strong evidence that, despite recent volatility, the capital markets remain robust for issuers with a strong underlying business,” he said.

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