Herbert Smith Freehills has advised Aconex Limited (Aconex) on its successful A$312.3 million initial public offering (IPO) on the Australian Securities Exchange.
Aconex is one of the world’s largest providers of ‘software as a service’ collaboration solutions for information and process management on construction and engineering projects. Aconex provides software products for the residential and commercial, government and infrastructure, and energy and resources sectors.
Aconex was founded in 2000 and has served over 50,000 user organisations working on projects valued at more than $800 billion worldwide. Aconex had approximately 1,070 fee-paying customers using the Aconex platform over the course of FY14 and currently has 402 employees in 41 offices around the world.
This IPO again highlighted the strength of Herbert Smith Freehills’ equity capital markets team and its ability to work with internationally based clients. Michael Ziegelaar, Herbert Smith Freehills’ co-head of equity capital markets in Australia, led the transaction. Michael was supported by senior associate Nick Golding and solicitor Lauren Faba as well as a large team of other specialists.
Herbert Smith Freehills’ deal structuring experts Simon Haddy and Sarah d’Oliveyra, head office advisory experts Priscilla Bryan, Stefanie Wilkinson and Amy Henderson, employee relations expert Natalie Perrin and banking expert Daniel Brealey all provided specialist advice.
General Counsel and Company Secretary of Aconex, James Cook, said: ‘We chose Herbert Smith Freehills for their outstanding IPO credentials in Australia. Even though our legal team is based in San Francisco, the Herbert Smith Freehills team was always available and delivered seamless service throughout the transaction.’
Michael Ziegelaar said: ‘Aconex’s collaborative culture made this IPO an absolute pleasure to work on. Aconex is very well placed to thrive in the listed environment and we look forward to continuing to collaborate with, and contribute to, the success of Aconex in the future.’
Macquarie Capital (Australia) Limited and UBS AG, Australia Branch each acted as Joint Lead Manager on the offering.
Source: www.herbertsmithfreehills.com
