Philip Ascroft

Philip Ascroft

Senior Solicitor, Auckland

Corporate & commercial

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T:+64 9 357 9692

M:+64 21 127 8210

E:philip.ascroft@chapmantripp.com

Qualifications

LLB (Hons), University of Canterbury

Admitted

2011, New Zealand

​Philip specialises in corporate and securities law with a particular focus on equity capital markets.

Philip acts for issuers, arrangers and underwriters on all aspects of IPOs and capital raisings. He also advises on mergers and acquisitions, takeovers and other corporate law issues, including listed company compliance and corporate governance.

He has acted on many of New Zealand's most significant recent IPOs and NZX listings and other equity capital markets transactions.

Recent experience

Philip has advised:

  • New Zealand King Salmon and Direct Capital on the proposed IPO and NZX Main Board and ASX listing of New Zealand King Salmon
  • NZME on its demerger from APN News & Media, its subsequent listing on the NZX Main Board and ASX, and the proposed merger with Fairfax New Zealand
  • Partners Life on Blackstone Group's $200m investment into the insurer
  • Heartland on its amalgamation with Heartland Bank, and proposed $100m capital return by way of Court approved scheme of arrangement
  • First NZ Capital as arranger of Wynyard's $30m rights issue and as sole lead manager of AFT Pharmaceuticals' $40m IPO and NZX Main Board listing
  • Deutsche Craigs as bookrunner and underwriter for Chevron New Zealand's block trade sale of its 11.3% stake in The New Zealand Refining Company for $82m, as bookrunner for BP's block trade sale of an 11.1% stake in The New Zealand Refining Company for $80m, and as underwriter and arranger of AWF Group's $14m rights issue under the same class offer regime
  • First NZ Capital and Credit Suisse (Australia) as underwriters of Kiwi Property Group's $152m accelerated renounceable entitlement offer, Precinct Properties' $174m accelerated renounceable entitlement offer and SKYCITY's $263m accelerated renounceable entitlement offer
  • First NZ Capital and Deutsche Craigs as joint lead managers of Orion Health's $125m IPO and NZX and ASX listing
  • EROAD on all aspects of its $46m IPO and NZX Main Board listing
  • on two of the New Zealand Government's Mixed Ownership Model programme transactions: the Treasury on the $736m IPO and NZX and ASX listing of Genesis Energy, and Mighty River Power (now Mercury) on its $1.7b IPO and NZX and ASX listing.
  • Pencarrow Private Equity and ACC on their acquisition of Bell Tea and Coffee Company from Foodstuffs New Zealand
  • the independent directors of Just Water International in response to a full takeover offer by Harvard JV, and
  • Dorchester Pacific (now Turners Limited) on its successful $82m full takeover offer and compulsory acquisition for Turners Group (previously Turners Auctions), offering a combination of cash, shares and/or optional convertible notes.
Corporate & commercial; Equity capital markets; International trade & investment; Mergers & acquisitions; Private equity

Services

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