find the latest legal job
Corporate/Commercial Lawyers (2-5 years PAE)
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Specialist commercial law firm · Long-term career progression
View details
Graduate Lawyer / Up to 1.5 yr PAE Lawyer
Category: Personal Injury Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Mentoring Opportunity in Regional QLD · Personal Injury Law
View details
Corporate and Commercial Partner
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Full time · Join a leading Adelaide commercial law firm
View details
In-house Legal Counsel & Commercial Lawyers
Category: Corporate and Commercial Law | Location: All Sydney NSW
· Providing lawyers with flexibility and control over when they work, how they work and who they work for.
View details
In-house Legal Counsel & Commercial Lawyers
Category: Corporate and Commercial Law | Location: All Melbourne VIC
· Providing lawyers with flexibility and control over when they work, how they work and who they work for.
View details
Increased IPO activity good news for lawyers

Increased IPO activity good news for lawyers

Alex Schlosser Clayton Utz

The rising number of companies launching IPOs has increased the workflow for lawyers in banking and finance practices.

Deloitte’s mid-year review has revealed that 30 IPOs were launched in the first half of 2015, an increase from 22 in the same period for 2014.

The total funds raised from the 30 IPOs was $2.5 billion, significantly less than the $4.6 billion raised from the 22 IPOs in the first half of calendar year 2014, the report found.

Clayton Utz partner Stuart Byrne, who heads up the firm's national equity capital markets group, said they had been very busy in terms of launching IPOs in the first half of 2015.

“There’s still a fairly strong pipeline of quality assets approaching the market this quarter,” he said.

Beyond acting for companies on the launch of their IPOs, Mr Byrne highlighted the other work that emerges for banking and finance lawyers.

“As companies get larger and more sophisticated and the Australian tech market matures, we're actually seeing a need for pre-IPO debt work in that space and follow-on facilities, and therefore more banking work is coming out in to the listed environment.”

Clayton Utz banking partner Alex Schlosser said he had seen a similar up-tick in work.

“I think it’s fair to say that a lot of the work that we have done on the banking side this year has been on the IPOs themselves.”

Mr Schlosser added that a number of companies had become more sophisticated in their use of capital and in their debt requirements.

"We're seeing quite a few companies, especially tech companies, that may have had a single bank relationship or that were not banked at all are now going to the syndicated loan market.”

He continued that there had been a shift "both in terms of the quantum and the complexity of the financing in those entities."

"As they grow, that expansionary debt capability comes in to play and they tap in to that market a bit more.”

Looking ahead, Mr Byrne suggested demand for banking and finance lawyers would remain robust.

“I predict that we're going to see a continuing strength and demand for those banking services, particularly as our tech market deepens and ASX becomes more widely known as a fantastic place to list tech companies.”

However, Mr Schlosser warned that, “with the volatility we are seeing generally in Europe and overseas, there is certainly talk that this will have an impact on pricing here and that will be across the debt market, not just for IPOs”.

Like this story? Subscribe to our free newsletter and receive Lawyers Weekly every day straight to your inbox.


Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Increased IPO activity good news for lawyers
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Scales of Justice
Dec 15 2017
Timing ‘critical’ in unusual contempt of court ruling
A recent case could have interesting implications for contempt of court rulings, according to a Ferr...
Dec 14 2017
International arbitration and business culture
Promoted by Maxwell Chambers. This article discusses the impact of international arbitration on t...
Papua New Guinea flag
Dec 14 2017
World-first mining case launched in PNG
Citizens of Papua New Guinea have launched landmark legal proceedings against the country’s govern...
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...