Global capital flows, trans-Tasman markets
Chapman Tripp has market-leading experience in highly successful equity capital raisings. We have worked on many of the most significant and complex initial public offerings to issue out of Australia and New Zealand. We were the first large firm to be accredited by NZX as an NZX Sponsor authorised to list companies on the NZAX stock market, and are the only law firm NZX Sponsor authorised to list issuers on the NZSX primary stock market and the NZDX debt market.
Our team brings decades of expertise, commercial acumen, extensive industry relationships and practical experience. From pre-float structuring, to IPO's, secondary rights issues and institutional placements, our national team has the scale and depth to help clients succeed. Our deep relationships with issuers, lead managers, underwriters, regulators and Government allow us to advise on all securities and capital markets matters – from capital raising to regulation and market supervision. We are fast, accurate, savvy and trusted.
We have advised
- Mighty River Power on its preparations to IPO as part of the Government’s Mixed Ownership Model programme. Chapman Tripp has also been appointed to the New Zealand Treasury’s Mixed Ownership Model Panel of law firms
- Quadrant Private Equity on its partial exit of Summerset Group Holdings Limited by way of IPO and NZX listing (the IPO valued Summerset at $300m), at the time the largest New Zealand IPO in four years
- Metlifecare on its NZ$40m institutional placement of new capital, in conjunction with a $60m sell down by Retirement Villages Group followed on by a $5m share purchase plan for retail investors
- Heartland New Zealand on a fully underwritten $58m capital raising to fund its PGG Wrightson Finance acquisition, effected by way of private placements and a $35m share purchase plan
- The underwriters of Contact Energy’s $350m rights issue
- Dorchester Pacific on the issue of $8m optional convertible notes including approvals required under the Takeovers Code
- AMP NZ Office Trust (ANZO) on its “corporatisation” (to become AMP NZ Office Limited) and its updated management arrangements, and re-listing on the NZSX market
- Combined Building Society on its NZDX listing, and Building Society Holdings Limited on its NZSX listing, in conjunction with the merger of MARAC, Southern Cross Building Society and Canterbury Building Society
- Dorchester Pacific on the underwritten entitlement offer for its $10 million recapitalisation in conjunction with its capital reconstruction plan to take Dorchester out of moratorium status, and acting as the NZX Sponsor on the quotation of Dorchester Pacific Secured Notes on the NZDX and Options on the NZSX
- the manager of DNZ Property Fund Limited in conjunction with its NZSX listing
- Australasian body, bath and home fragrance provider Ecoya on its $10 million IPO and NZSX listing with $43 million initial market capitalisation
- UBS and McDouall Stuart as lead managers and underwriters of Pike River Coal’s $90 million 2010 rights issue
- First NZ Capital and Credit Suisse (Australia) as underwriters of Auckland International Airports’ $126 million accelerated renounceable entitlement issue
- leading outdoor equipment and clothing retailer Kathmandu Holdings Limited on New Zealand law aspects of its $650 million IPO of shares and dual listing on the ASX and NZSX
- New Zealand’s sole registered securities exchange, on the development of a new clearing and settlement system for the securities markets operated by it, that aligns with international best practice
- Direct Capital Limited on the successful fund-raising of its Direct Capital IV (DCIV) fund, raising NZ $325 million in committed capital from investors
- PGG Wrightson on its $249.4 million recapitalisation, comprising a $68.7 million investment in shares and convertible notes by new cornerstone shareholder Agria Corporation, and a $180.7 million fully underwritten rights issue using the first simplified disclosure prospectus under 2009 securities law reforms
- AMP NZ Office Trust on its NZ$200 million fully underwritten rights issue
- Telecom on its $1.1 billion capital return to shareholders via shareholder approved scheme of arrangement.
- Fisher Funds on the NZ$103 million initial public offering and listing of Marlin Global (the largest capital raising in New Zealand in 2007).