GILBERT + TOBIN are leading the way this year as the top legal advisers, in terms of dollar value, for equity initial public offerings in Australia and New Zealand.
Despite having a deal count of just one, Bloomberg’s Australia and New ZealandIPO Issue Advisers league table shows that Gilbert +Tobin have captured a market share of 23 per cent with a total deal value of $US108 million ($112 million). Gilbert + Tobin beats out Perth firm Steinepreis Paganin and national firm Dibbs Abbott Stillman who come in with market shares of 18 per cent and 10 per cent respectively.
Gilbert + Tobin’s position is the result of its work on the Compass Hotels Group’s $123 million IPO on the ASX. The firm acted on all aspects of the transaction, which resulted in Compass Hotel Group acquiring 13 hotels and taverns in Western Australia — one of the largest freehold owned and operated portfolios in the state.
The firm didn’t make the table at all last year, and last year’s number one — Baker & McKenzie — is currently sitting in 13th place.
In terms of total number of deals, however, Steinepreis Paganin is well and truly in the lead with a count of 11. This is almost three times that of second place Perth firm Price Sierakowski, with a deal count of four. Filling out the top five positions on deal count are DLA Piper and Perth firms Blakiston & Crabb and Lawton Gillion.