B2B service advised on IPO and ASX listing

By Jerome Doraisamy|28 May 2019

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

Area: Corporate.

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.”

B2B service advised on IPO and ASX listing
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