MinterEllison has advised Johns Lyng Group Limited (JLG) on its listing on the Australian Securities Exchange (ASX) and initial public offering (IPO) of its shares, which raised approximately $96 million.
Led by MinterEllison partner Bart Oude-Vrielink and a team including Sudharshan Senathirajah (Special Counsel), Steven Wang (Senior Associate) and Sarah Soon (Associate), the deal included a pre-listing restructure and sell down by the existing owners of JLG.
JLG is a leading integrated building services group delivering building and restoration services across Australia. Its client list includes the likes of RACV, Suncorp, CGU and QBE.
Prior to listing, MinterEllison guided JLG through a complex restructure which is expected to simplify ownership and maximise shareholder value.
“It was a privilege to assist the Johns Lyng Group through its restructure and listing on the ASX”
"The IPO attracted overwhelming support from investors... This is a key moment for the Johns Lyng Group, with the IPO opening up an exciting new chapter in its long history."
MinterEllison advised JLG on all aspects of the IPO and listing, including undertaking and chairing the due diligence process, drafting the prospectus, obtaining Corporations Act modifications from the Australian Securities & Investments Commission (ASIC), listing rule waivers from the ASX, and advising on various employment arrangements for executives and senior managers.
The offer was underwritten by Bell Potter and joint lead managed by Evans & Partners.