Our work

PGC takeover
Acting for Australasian Equity Partners Fund No. 1 LP in relation to its takeover offer for Pyne Gould Corporation.

Energy Mad IPO
Advised energy-efficient lightbulb maker Energy Mad and its selling shareholders on its public offer of ordinary shares and NZSX listing.

Contact Energy rights issue
Advised Contact Energy on its fully underwritten NZ$350 million pro-rata renounceable rights issue, the largest capital raising on the NZSX in over 18 months. This was the first rights issue in New Zealand to combine rights trading with a post-close shortfall bookbuild.

DNZ Property Fund – NZSX listing
Advised DNZ Property Fund on its restructuring to internalise management arrangements and capital raising. This was the largest NZSX listing of 2010 and one of only two NZSX listings to complete in that year. The offer was structured as a non-renounceable pro-rata rights issue combined with a post-close bookbuild.

AMI Insurance – establishment of capital facility
Advised AMI Insurance on the establishment of a capital facility from the New Zealand Government through the issue of convertible redeemable preference shares to allow a capital injection from the Government of up to a maximum of NZ$500 million.

Goodman Fielder bond issue
Advised Goodman Fielder on a NZ$250 million senior, unsecured fixed rate bond issue to the New Zealand public through subsidiary Goodman Fielder New Zealand Limited.

Vital Healthcare rights issue
Advised the underwriter (Forsyth Barr) on the NZ$151 million pro-rata renounceable rights issue by NZSX-listed Vital Healthcare Property Trust. This was the largest equity capital raising on the NZSX in 2010.

Rubicon capital raising
Advised Rubicon on all aspects of its capital raising, the first offer in New Zealand to utilise a simultaneous accelerated renounceable entitlement offer (SAREO) structure.

Matariki Forestry Group recapitalisation
Advised Deutsche Asset Management (as manager of one of the shareholders) on the NZ$167 million recapitalisation of Matariki Forestry Group by Phaunos Timber Fund Limited.

Pyne Gould recapitalisation
Advised Pyne Gould Corporation on its NZ$273 million recapitalisation to support it to become a publicly-listed banking and asset management company.

Fisher & Paykel Appliances recapitalisation
Advised Fisher & Paykel Appliances on its NZ$200 million recapitalisation – including an underwritten pro-rata renounceable rights issue and a placement to Haier Group as new cornerstone shareholder. This transaction was named New Zealand Deal of the Year at the ALB Australasian Law Awards.

Prime Infrastructure recapitalisation
Advised Prime Infrastructure (formerly Babcock & Brown Infrastructure) on the New Zealand aspects of its A$1.8 billion recapitalisation including a A$1.5 billion capital raising, convertible notes issue, debt facilities, capital structure, simplified disclosure prospectus and conversion of Subordinated Prime Adjusting Reset Convertible Securities.

Fletcher Building equity raising
Advised Fletcher Building on its NZ$525 million equity raising. This was the first three-step capital raising for New Zealand and comprised an underwritten institutional placement, share purchase plan and a top-up offer to retail shareholders in New Zealand and Australia.

Contact Energy bond offer
Advised Contact Energy on its successful NZ$550 million bond offer and the company's altered dividend policy, which resulted in the retention of around NZ$49 million.

Opus IPO
Advised Opus International Consultants on its initial public share offering and listing on the NZSX. Opus is the largest professional infrastructure consultancy in New Zealand.

Vector Euro Medium Term Note Programme
Acted for Vector on the establishment of its European MTN programme, the first programme established by a New Zealand electricity utility.

Barclays Bank Plc Debt Issuance Programme
Acted as New Zealand counsel to Barclays Bank in establishing an A$10 billion debt issuance programme in Australia and New Zealand.

Fletcher Building share placement
Advised Fletcher Building on the placement of 26 million shares, raising NZ$328 million to fund its acquisition of Formica Corporation. The placement was conducted by a global bookbuild led and underwritten by Goldman Sachs and Deutsche Bank AG.

Xero IPO
Advised New Zealand web-based accounting software firm Xero on its initial public offering and successful float on the NZSX, the first ever listing in New Zealand of an early stage technology company.

Rakon initial public offering
Advised Rakon on its very successful NZ$170 million initial public offering and listing on the NZSX. The team advised Rakon and its selling shareholder on a wide range of sale and listing options for the company, a world leading high performance quartz crystal components manufacturer.

Fisher & Paykel Appliances equity raising
Advised Fisher & Paykel Appliances on the New Zealand aspects of its equity raising for the NZ$158 million acquisition of Italy-based cookware business Elba from De’Longhi S.p.A. This was the first concurrent, equivalent share purchase plan undertaken by a dual-listed entity in New Zealand and Australia.

T3 global public offering of Telstra
Acted as New Zealand counsel to the Commonwealth of Australia and Telstra Corporation on the A$15.5 billion global public offering of the third tranche of the Australian Government's stake in Telstra Corporation.

Goodman Fielder IPO
Advised Goodman Fielder, as New Zealand legal adviser, on its A$2.1 billion initial public offering of shares and NZSX listing.

Endace listing
Advised Endace on its listing on the London Stock Exchange Alternative Investment Market (AIM). Endace, which specialises in network security and measurement applications, was the first New Zealand entity to list on the AIM market for growth companies.

Pacific Brands
Advised this major Australasian retail company on its initial public offering of shares in Australia and New Zealand and listing on the ASX and NZSX.

Just Group
Advised on the New Zealand aspects of the initial public offering and ASX listing, including the offering in New Zealand, for this owner of major retail chains including Just Jeans and Portmans.

PowerCo bond offering
Advised on PowerCo's NZ$180 million offering of guaranteed bonds to institutions and the New Zealand public.