HSF leads in $576m IPO

The fintech company, Australia's largest online lender to small businesses, raised $146.5m

HSF leads in $576m IPO

Herbert Smith Freehills (HSF) acted for Australia’s largest online lender to small businesses in its blockbuster IPO.

The firm advised Prospa Group Limited on its IPO, which raised $146.5m for a market capitalisation of $576.3m. The fintech company has lent more than $500m since 2012 to more than 12,000 unique customers. Its net loan book has grown to more than $200m, HSF said.

HSF rainmaker Philippa Stone led the global firm’s team. She was supported by fellow partner Philip Hart. Solicitors Christian Bourke, Elizabeth Cameron, Michael Burrell, Lucinda Bradshaw, and Vivek Mahadevan, as well as graduate Luca Moretti, also worked on the deal.

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HSF regulatory and governance specialists – including consultant Tony Coburn, senior associate Lauren Selby and solicitors Nicola Greenberg and Bianca Marcocci – also provided advice.

“It was exciting to work with such a dynamic company on its IPO, which is the latest in a number of important milestones in its rapidly developing business,” Stone said.

Macquarie Capital Australia and UBS AG Australia Branch were the joint lead managers.

 

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