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.

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.


Related stories:
One of Australia's largest solar projects proceeds with top firms showing the way
Scarlis Pringle expands with senior recruit from HSF


Recent articles & video

Law Squared named Melbourne Symphony Orchestra's international legal partner

Law Council of Australia criticizes newly passed Migration Amendment (Bridging Visa Conditions) Act

Addleshaw Goddard elects new managing partner

Global Best in Law 2023 revealed

Thomson Geer advises Accolade Wines on House of Arras sale

Recruitment for deputy presidents and senior members of new Administrative Review Tribunal begins

Most Read Articles

MinterEllison solicitor wins first Queensland Government John Monash Scholarship

Holding Redlich appoints seasoned investment funds star as new partner

Thomson Geer advises Accolade Wines on House of Arras sale

Maddocks assists CleanPeak Energy on its acquisition of three solar farms