Kwan Leung
Clayton Utz
Kwan is one of Sydney's most experienced equity capital markets practitioners, with over a decade of dedicated experience in the field. He brings deep expertise advising companies and major investment banks on IPOs, secondary raisings and other complex equity transactions, as well as a strong corporate and M&A practice encompassing public company takeovers, schemes of arrangement, takeover defence, and strategic acquisitions. His client-centric, commercially grounded approach is complemented by a valuable cross-border perspective gained from practising in Hong Kong, informing his guidance to ASX-listed and unlisted issuers across a wide range of capital markets and transactional mandates. Expertise includes IPOs, placements, capital raisings, dual track transactions, head office advisory, governance, and M&A.
Equity Capital Markets experience:
Brookfield: Advised on the dual track disposal (simultaneous IPO and trade sale auction) of its financial services and asset management business, La Trobe Financial, valued at approximately A$3 billion. This transaction was ultimately executed as a sale of an approximately 30% minority interest in La Trobe Financial to Abu Dhabi-based private equity firm Axight, a transaction valuing the business at A$3 billion.
Quadrant Energy: Advised a consortium of sellers led by Macquarie and Brookfield on the proposed dual track IPO of Quadrant Energy, which culminated with a US$2.15 billion sale to Santos.
Tyro Payments: Advised on the IPO and ASX listing of Tyro Payments, the largest corporate IPO of 2019.
Nuix: Advised on its A$1.7 billion IPO and listing on ASX, helping Nuix to raise approximately A$953 million. This was the largest corporate IPO of 2020.
FINEOS: Advised Irish based FINEOS on its A$713 million IPO on ASX, the largest foreign technology company to list on ASX at the time.
Keypath Education International, Inc.: Advised US-based Keypath on its A$772 million IPO on ASX, raising approximately A$212 million.
Limeade, Inc: Advised Limeade on its IPO and ASX listing, raising A$100 million and opening with a market capitalisation of approximately A$490 million.
SongTradr Inc: Advised on various strategic matters, including fundraisings and investments into Vinyl Group (formerly Jaxta Limited).
Kinetic Development Group Ltd: Advised Hong Kong stock exchange listed Kinetic Development Group on its subscription into MC Mining Limited for approximately US$90 million.
Aveng Group Limited: Advised on its strategic review into separating its core operating business, McConnell Dowell, into an independent entity and potential IPO on ASX.
Conrad Asia Energy: Advised energy company Conrad Asia Energy on its IPO and ASX listing, raising A$45 million and opening with a market capitalisation of approximately A$233 million.
Bhagwan Marine Ltd: Advised Bhagwan Marine on its IPO and ASX listing, raising A$80 million and opening with a market capitalisation of approximately A$173 million.
Marley Spoon AG: Advised on its IPO and A$300 million listing on ASX.
Bravura Solutions Limited: Advised on its A$165 million placement.
InvoCare Limited: Advised on its A$85 million placement.
Corporate and M&A experience:
Ainsworth Game Technology: Advised in connection with a scheme of arrangement and takeover bid by Austrian gaming conglomerate Novomatic AG, as well as an unsolicited proportional takeover bid by the son of the founding shareholder Mr Kjerulf David Hastings Ainsworth.
Monash IVF Group: Advised in connection with its defence against an unsolicited takeover bid valued at approximately A$320 million, and on strategic matters.
Australian Technology Innovators (ATI): Advised ATI and its group companies, including software solution providers LEAP, InfoTrack and Smokeball, on various strategic matters including capital raisings and M&A transactions.
Permira: Advised Permira on its acquisition of i-MED Radiology and the Australian aspects of its acquisition of Corin Orthopaedics.
Duxton Farms: Advised on its strategic acquisition of four diversified agricultural businesses and an accompanying capital raising comprising $4.55 million fully underwritten placement of new shares at $1.25 per share.
Keypath Education International, Inc.: Advised Keypath on Sterling Partners take private merger transaction for ASX-listed Keypath.
Woolworths: Advised Woolworths and its Petrol business on its dual track process including due diligence, corporate structuring and preparation and negotiation of offer sale documentation.