Promina IPO Nominated Equity Deal of the Year
24 February 2004
Simpson Grierson and
Promina IPO Nominated for
Equity Deal of the Year
Top-tier law firm Simpson Grierson has been nominated for a prestigious award by global legal publication International Financial Law Review (IFLR). Simpson Grierson is the only New Zealand law firm amongst nine finalists for Equity Deal of the Year in the IFLR Asian Awards 2003.
Simpson Grierson was nominated for its work on the Promina Initial Public Offering (IPO) along with leading firms Freehills, Mallesons Stephen Jaques, Pillsbury Winthrop, Jones Day and Minter Ellison, who also advised on the deal. The firms have been recognised for work on the Promina IPO listing in May 2003. At the time it was 2003's biggest IPO in the world (on a year to date basis) and was the first ever dual primary listing of an Australian company on the NZX. The listing raised a substantial NZ$2.1 billion.
Richard Nelson, Partner, at Simpson Grierson is
delighted with the nomination.
“The Promina listing was a first in New Zealand and has lead the way for other trans-Tasman companies to dual list. We are delighted that this transaction has been recognised through the nomination.”
Simpson Grierson advised on a wide range of matters, including undertaking due diligence on Promina’s New Zealand operations, and liaising with the NZX on the dual listing process. Simpson Grierson also advised on compliance with the New Zealand Securities law regime for the New Zealand part of the IPO, including obtaining an exemption from the Securities Commission to enable pre-registration, which was a feature of the offer.
Winners of the IFLR Asian Awards 2003 will be announced on March 11 at The Ritz-Carlton, Hong Kong. There are 17 awards in total.