B2B service advised on IPO and ASX listing
Melbourne-based business-to-business service Powerwrap Limited has been advised on its $17.4 million IPO and listing on the Australian Stock Exchange.
Firm: Hall & Wilcox (Powerwrap); Bell Potter Securities Limited and Baillieu Limited (underwriters and joint lead managers of the IPO).
Deal: The firm advised Powerwrap on its successful initial public offer of securities and listing on the ASX.
The transaction involved both a Retail Offer and Institutional Offer of both new and existing securities.
“Advising on the transaction, which involved a sell down facility for existing security holders, required extensive capital raising expertise and navigation of the complex financial services regulation applying to entities of this type,” the firm said.
Value: $17.4 million
Key players: The Hall & Wilcox team was led by corporate partner John Hutchinson, who was supported by partner Adrian Verdnik and lawyers Vanessa Murphy and James Fisher.
Deal significance: Mr Hutchinson said: “We are delighted to have advised Powerwrap’s board and management on achieving this important milestone which provides a springboard to pursue its future growth opportunities.”