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29 Nov 2013

Clayton Utz supports OzForex to launch landmark $480 million IPO and ASX listing

Sydney, 29 November 2013: Clayton Utz congratulates OzForex Group Limited (OzForex) on the successful completion of its initial public offering (IPO) and listing on the Australian Securities Exchange on 11 October 2013.

Clayton Utz Corporate partners Jonathan Algar and Stuart Byrne and director - Equity Capital Markets (ECM) Natasha Davidson led the firm's team, which included consultant Nick Brown, senior associates Patricia Paton and Hugh Brolsma, and lawyer Jonathan Augustus.

Clayton Utz acted as Australian legal counsel to OzForex on its dual track trade sale / IPO process, which commenced earlier this year. The Joint Lead Managers to the IPO were Macquarie Capital and Goldman Sachs. The IPO was offered in Australia and globally, including the United States.

It is one of the strongest debuts since 2008 and the largest IPO of an Australian company during 2013. OzForex's market capitalisation on listing exceeded $600 million.

"The Clayton Utz team was delighted to support OzForex in taking the next step in its strategic expansion. The success of the float has been a great testament to the quality of the management team and the board," said Clayton Utz partner Jonathan Algar.

National Clayton Utz ECM practice head Stuart Byrne added: "The deal is a great example of client and adviser teams working together to achieve a positive commercial outcome. OzForex is a global business operating inhighly regulated markets and we enjoyed the opportunity to co-ordinate and work with legal specialists from around the world to produce a co-ordinated and efficient legal service covering all their markets."

Clayton Utz director - ECM Natasha Davidson observed that the IPO signalled positive news for the Australian IPO market. "There is clearly a strong appetite in the Australian market for the right deal, product and company," she said.

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Clayton Utz communications are intended to provide commentary and general information. They should not be relied upon as legal advice. Formal legal advice should be sought in particular transactions or on matters of interest arising from this communication. Persons listed may not be admitted in all States and Territories.