Rachel specialises in corporate and securities law with particular expertise in equity capital markets and mergers and acquisitions.
She has acted on many of New Zealand's most significant recent IPOs, NZX listings and other equity capital markets transactions, as well as on a range of public and private M&A transactions. Rachel has a reputation for ensuring complex and involved processes run smoothly.
Rachel is a member of the NZ Markets Disciplinary Tribunal (NZMDT). She is recognised as a Rising Star by independent legal directory IFLR1000 2019 and as a leading lawyer in Chambers Asia Pacific 2019 and in Chambers Global 2019. Rachel is the sole legal representative on the FMA and NZX convened Capital Markets 2029 steering committee.
Relevant recent experience
Rachel has advised:
Fonterra on the sale of its iconic ice cream business, Tip Top, to global ice cream manufacturer Froneri for $380m
Evolve on its fully underwritten $63.5m AREO
Mercury on the sale of its smart-metering business, Metrix, to intelliHUB Group for $270m
Forsyth Barr as underwriter of Abano’s $35m pro rata rights issue and shortfall bookbuild
Heartland Bank on its $59m 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
NZME on its demerger from APN News & Media, its subsequent listing on the NZX Main Board and ASX, and the proposed merger with Stuff (previously Fairfax New Zealand)
First NZ Capital (now Jarden) and Credit Suisse on SKYCITY's fully underwritten $263m AREO
Partners Life on Blackstone Group’s $200m investment into the insurer
Pencarrow Private Equity on its acquisitions of interests in MMC, Mix, BeGroup, SolarCity and Bell Tea and Coffee Company
Direct Capital on its acquisition of interests in Hiway Group and Bayleys Real Estate and its sale of interests in Transaction Services Group and T&G Global
Deutsche Craigs as bookrunner of the $82m block trade of Chevron’s 11.3% stake in The New Zealand Refining Company and as underwriter of Pushpay’s US$25m placement
Scales Corporation and Direct Capital on the $149m IPO and NZX listing of Scales Corporation and on the subsequent sale of Direct Capital’s retained stake to China Resources Ng Fung, and
on two of the New Zealand Government’s Mixed Ownership Model programme transactions: the Treasury on the $733m IPO and NZX and ASX listing of Genesis Energy, and Mighty River Power (now Mercury) on its $1.68b IPO and NZX and ASX listing.