Seven Group Holdings Limited’s A$500 Million Underwritten Institutional Placement

Herbert Smith Freehills worked with Seven Group Holdings Limited on the deal.

The deal involved a successful A$500 million fully underwritten institutional placement (Placement) and non-underwritten share purchase plan (SPP) to raise up to A$50 million, announced to the ASX on 19 April 2021.
SGH is a leading Australian diversified operating and investment group with market-leading businesses and investments in industrial services, oil and gas and media.

The Placement and SPP will enable SGH to reduce overall net debt and strengthen balance sheet flexibility to support portfolio growth opportunities. The capital raising will also improve liquidity by increasing SGH’s free float and facilitate continued discipline in the company’s approach to capital allocation.

Herbert Smith Freehills advised SGH on all facets of the Placement and SPP. The Herbert Smith Freehills team was led by partner Rebecca Maslen-Stannage (Picture) and senior associate Mia Harrison-Kelf, who were supported by solicitors Sunny Li and Ilana Gottlieb. Singapore-based partner Siddhartha Sivaramakrishnan, along with Hong-Kong-based senior associate Jin Kong and London-based consultant Elizabeth Bramon advised on US aspects of the transaction. The Herbert Smith Freehills team worked closely with the SGH team, including MD and CEO Ryan Stokes, CFO Richard Richards, and Company Secretary Warren Coatsworth.

Involved fees earner: Mia Harrison-Kelf – Herbert Smith Freehills; Jin Kong – Herbert Smith Freehills; Rebecca Maslen-Stannage – Herbert Smith Freehills; Siddhartha Sivaramakrishnan – Herbert Smith Freehills;

Law Firms: Herbert Smith Freehills;

Clients: Seven Group Holdings Limited (SGH, formerly Seven Network Limited);

Author: Sonia Carcano