Philip Ascroft

Philip Ascroft

Senior Associate, 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 and mergers and acquisitions.

He acts for issuers, arrangers and underwriters on all aspects of IPOs and capital raisings. Philip 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:

  • Fonterra on the sale of its iconic ice-cream business Tip Top to global ice cream manufacturer Froneri for $380m
  • Evolve Education on its $63.5m underwritten accelerated rights renounceable entitlement offer (AREO) and its sales program of non-core early childhood education centres and businesses (including the sale of its Porse In-home Childcare, Au Pair Link and ECE Management businesses)
  • Mercury on the sale of its smart-metering business, Metrix, to intelliHUB Group for $270m
  • Datamars SA on its acquisition of the retail solutions and milk meters businesses of Tru-Test, a leading agricultural technology business
  • ASX-listed SRG on its acquisition of TBS Group, a leading industrial maintenance and services business
  • Pencarrow Private Equity on its acquisitions of interests in MMC, Mix, BeGroup and Bell Tea and Coffee Company
  • Heartland Bank on its $59m pro rata rights issue and shortfall bookbuild
  • Steel & Tube on its $80.9m placement, pro rata rights issue and shortfall bookbuild
  • New Zealand King Salmon and Direct Capital on the $77.5m IPO and NZX Main Board and ASX listing of New Zealand King Salmon
  • EROAD on all aspects of its $46m IPO and NZX listing
  • Deutsche Craigs as bookrunner and underwriter for Serko’s $15m underwritten placement, Pushpay’s US$25m underwritten placement and Chevron New Zealand's block trade sale of its 11.3% stake in The New Zealand Refining Company for $82m
  • Jarden and Credit Suisse (Australia) as underwriters of Kiwi Property Group's $152m AREO, Precinct Properties' $174m AREO and SKYCITY's $263m AREO
  • Forsyth Barr as underwriter of Abano’s $35m pro rata rights issue and shortfall bookbuild, and
  • 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.
Corporate & commercial; Equity capital markets; International trade & investment; Mergers & acquisitions; Private equity

Services

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