Equity capital markets

A leading force in capital markets, Bell Gully regularly advises on New Zealand's most significant equity capital market transactions.

  • Summary
  • Work highlights
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​​​​​​​​​​​The breadth and depth of Bell Gully's team means that we occupy a central position in New Zealand's equity capital markets, with roles in most major IPOs and other capital raising transactions.

Successful equity capital raisings can be a crucial component of many transactions and business expansions. Bell Gully is New Zealand's leading capital markets law firm, with a sustained and proven track record. We regularly advise clients on a wide range of equity offerings, from early stage capital for start-up businesses to New Zealand's most significant public offerings.

Our focus is on reducing complexity and getting the right results. We work collaboratively with our clients and other advisers to eliminate problems and deliver workable solutions. We help our clients navigate the issues that arise when implementing equity capital raisings. We work hard to get the results our clients need to grow and shape their businesses. 

Our team works with international law firms with leading capital markets practices. These relationships ensure that we are involved in the New Zealand aspects of significant global capital markets transactions. 

We have excellent relationships with the key New Zealand capital markets regulators, including the Financial Markets Authority, NZX and the Ministry of Business, Innovation and Employment. A number of our partners are members of regulator working groups and  committees established to advise on issues that come up on equity offerings. 

Recognition ​for our equity capital markets expertise

"It's of the highest quality. It led our IPO and recommend them to any company looking to list on the NZX... it has a good balance of quality legal advice and commercial pragmatism."
​​IFLR1000 2016 - Tier 1

CBL Corporation IPO
Advised UBS and Forsyth Barr, as joint lead managers, on the NZ$132.2 million initial public offering of CBL Corporation. This was the first under the new Financial Markets Conduct Act regime. 

Stride Property capital raising
Acted for Stride Property on its placement and share purchase plan under the quoted financial products exclusion to the Financial Markets Conduct Act. The capital raising was undertaken to fund Stride Property's acquisition of the Antipodean Properties supermarket portfolio.

a2 Milk Company placement
Advised Goldman Sachs as sole bookrunner and underwriter on the NZ$40 million placement by the a2 Milk Company.

Z Energy block trade
Advised Deutsche Craigs and Deutsche Bank as bookrunners on the NZ$713 million block trade by Infratil and NZ Super Fund of shares in Z Energy.

Contact Energy sell down
Acted for Contact Energy on the NZ$1.81 billion block trade by Origin of its shares in Contact. This was the first block trade under the quoted financial products sale exclusion to the Financial Market Conduct Act and, as a first for Australasia, allowed the sale to include retail investors while being made under usual block trade timeframes.  

Property for Industry rights issue
Advised Forsyth Barr as underwriter of the NZ$49.5 million renounceable rights issue undertaken by NZX listed Property for Industry.

Arvida Placement to fund acquisition
Acted for Forsyth Barr as underwriter of the NZ$30 million placement by Arvida to fund the acquisition of Aria Bay, Aria Park and Aria Gardens.

Wynyard Group placement
Advised UBS as sole arranger and underwriter of Wynyard Group's NZ$40 million placement.

Trustpower sell down
Acted for Deutsche Craigs as sole bookrunner on the NZ$155 million sell down of shares in Trustpower by Tauranga Energy Consumer Trust.

Fliway IPO
Acted for Fliway Group on its initial public offering and NZSX listing, which was the first IPO to be completed in 2015. 

Xero placement
Advised Xero on a NZ$147.2 million equity capital raising, which included a NZ$132.9 million private placement in the firm by US private equity firm Accel Partners and a NZ$14.3 million investment by existing shareholder Matrix Capital Management.

Orion Health IPO
Acted for healthcare software provider, Orion Health on its initial public offering and NZX and ASX listings.

Metro Performance Glass IPO
Acted for Metro Performance Glass on its initial public offering and NZX and ASX listings.

Medibank Private IPO
Acted as New Zealand legal adviser to the Commonwealth of Australia on its initial public offer of shares in Medibank in Australia and New Zealand. This deal won the Equity Market Deal of the Year Award at the 2015 Australasian Law Awards.

Evolve Education IPO
Acted for Goldman Sachs and Forsyth Barr as joint lead managers and underwriters of the initial public offering Evolve Education and NZX and ASX listings.

Martin Aircraft IPO
Advised the world's first commercial jetpack maker, Martin Aircraft on its initial public offering and listing on the ASX.

Gentrack Group IPO
Acted for specialist software company, Gentrack on its $NZ99 million initial public offering and NZX and ASX listings.

Serko IPO
Acted for computer software company, Serko on its $NZ22 million initial public offering and NZX and ASX listings. 

Mantra Group IPO
Acted for Mantra Group on its initial public offering and ASX listing.

Millennium & Copthorne rights issue
Acted for NZX Main Board listed MCK on their NZ$112 million pro rata rights offer of redeemable, non-voting preference shares to existing shareholders.  

Metlifecare sell down
Acted for Goldman Sachs on the NZ$280 million sell down of shares in Metlifecare.

Meridian Energy IPO
Advised the Treasury on the initial public offering and NZX and ASX listings of Meridian Energy.

Mighty River Power IPO
Advised the Treasury on the initial public offering and NZX and ASX listings of Mighty River Power.

Mixed ownership model
Advised the Treasury on the design and implementation of the mixed ownership model (MOM programme), including legislative framework.

Xero IPO and listings
Acted for Xero on its initial public offering and NZX listing, and subsequent ASX listing.

GeoO​p capital raising
Acted for GeoOp on its pre-IPO capital raising, private capital raising of NZ$10 million and NZAX listing placement.

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  • James Gibson

    Partner Auckland
  • Toby Sharpe

    Partner Auckland
  • Amon Nunns

    Partner Wellington
  • Dean Oppenhuis

    Partner Wellington