Freehills is acting as Australian legal counsel to Miclyn Express Offshore on its initial public offering, with its prospectus lodged this week and shares expected to commence trading on ASX on 26 March 2010.
The Singapore-based company provides service vessels to the offshore oil and gas industry in South-East Asia, Australia and the Middle East.
Miclyn Express Offshore’s market capitalisation will be between A$502 million and A$623.7 million based on the indicative price range of A$1.85 to A$2.30 per share.
Freehills partner Philippa Stone said, ‘We are delighted to have worked closely with Miclyn Express Offshore and Macquarie Capital Advisers (as global coordinator) on this matter and are pleased to have advised on another significant IPO, following the firm’s involvement in the Myer and Kathmandu floats.’
Freehills also acted for Miclyn Express Offshore on its acquisition of a 50% interest in Samson Maritime, a marine services company headquartered in Fremantle, Western Australia.
Freehills partner Tony Sparks said, ‘This was a key strategic acquisition for Miclyn Express Offshore, with the negotiation being conducted in a tight timeframe and in the midst of preparing for the launch of the IPO.’
The Freehills team is led by partners Philippa Stone and Tony Sparks, Senior Associate Faith Sing and lawyers Carl Hornigold, Ivan Yu and Sally Choi.
Freehills’ award winning equity capital markets team has acted on many of Australia’s largest recent capital raisings, including acting for Myer on its IPO, and Elders, Santos, Woodside and Lend Lease on recent secondary raisings, and for the underwriters on numerous raisings including those by Kathmandu on its IPO, and Rio Tinto’s US$15.4 billion rights offer.
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