A resurgent stock market and some successful company floats or Initial Public Offers (IPO) towards the end of the year have set good conditions for growth in Equity Capital Markets (ECM) in 2010.
Freehills corporate partner and co-head of the Equity Capital Markets team, Philippa Stone said, ‘The successful public floats of retailers Myer and Kathmandu towards the end of 2009 were good signals for equity capital markets in 2010.’
‘Particularly in the first half of 2009 a lot of the activity was raising funds to sure up balance sheets.’
‘We would expect there will be more activity this year, particularly IPO activity from private equity investors seeking to realise their investments and existing listed companies seeking to raise funds to invest for future growth.’
Top-tier Australian based international law firm Freehills has a strong history leading the market in advising on Equity Capital Markets deals. Freehills has once again achieved a number one ranking in both the full-year 2009 Bloomberg IPO and Hybrid Legal Advisor League Tables for Australia & New Zealand.
Freehills corporate partner and co-head of the Equity Capital Markets team, Michael Ziegelaar said, ‘Freehills is still clearly the most active legal advisor in Australasia.’
Freehills’ award winning equity capital markets team has acted on many of Australia’s largest recent capital raisings, including acting for Myer on its A$3 billion IPO; for Woodside, Santos, Elders, BBI, FKP Property Group and many others on major secondary capital raisings; for CBA on its A$2 billion PERLS V hybrid raising, and for the underwriters of numerous raisings including Rio Tinto’s A$15.2 billion rights offer.
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