Sidley’s Sydney-based team has been recognized by the Australia Law Awards for their work on the initial public offering (IPO) of Property Exchange Australia (PEXA), which was awarded Equity Market Deal of the Year at a recent ceremony.
Sidley represented the underwriters, Barrenjoey, Macquarie Capital, Morgan Stanley, and UBS, in connection with the Australian IPO and, in particular, the offer and sale to institutional investors in the United States pursuant to Rule 144A. In awarding the PEXA IPO as Equity Capital Markets Deal of the Year, the judges recognized the complexity of the transaction, the nature of the IPO/merger-and-acquisition dual-track sale process, and the timetable pressures. At over US$3 billion, the offering was the largest IPO on the Australian Securities Exchange since 2018.
PEXA is Australia’s online property exchange network and helps lawyers, conveyancers, and other professionals lodge transfer documents with Land Registries and complete settlements digitally.
The Sidley team was led by partner Robert Meyers and counsel Carla Polson, supported by Kim Robertson and Denise Gomes, all from our Sydney office.