MLG Oz Limited’s Initial Public Offer

Ashurst advised MLG Oz Limited, on its initial public offer and listing on ASX.

The IPO comprised the issue of 50 million new shares, combined with a sell down of 20.7 million existing shares by MLG’s founder, Murray Leahy (who will continue to hold at least a 50.1% interest in MLG). The price of shares under the IPO was A$1.00 per share, representing an implied market capitalisation of approximately A$145.7 million. At close of trade on its first day of trading, MLG’s market capitalisation was A$184.3 million (with a share price of A$1.265).


The offer was fully underwritten by joint lead managers Bell Potter Securities Limited and Morgans Corporate Limited and attracted strong support.


The successful IPO will provide MLG with the financial capacity and flexibility to pursue identified growth opportunities, including through targeting prospective new clients and contracts, the pursuit of strategic assets and potential bolt-on acquisition opportunities, as well as through geographical expansion. It will also provide employees of MLG with the opportunity to become shareholders in the company.

The Ashurst team was led by partners Antonella Pacitti (Picture) and Roger Davies and lawyer Toby Newnes, with assistance from a number of other partners and lawyers across the firm’s Corporate Transactions, International Projects, Energy & Resources, Project Finance, Real Estate, Employment and Intellectual Property practice groups.


Involved fees earner: Roger Davies – Ashurst; Toby Newnes – Ashurst; Antonella Pacitti – Ashurst;

Law Firms: Ashurst;

Clients: MLG Oz Limited;

Author: Sonia Carcano