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Lonestar Resources successfully re-domiciled
A global firm’s cross-border team advised ASX-listed Lonestar Resources on its re-domiciliation to Delaware and its listing on the NASDAQ Stock Market.
Lara Bullock
Firm: Baker & McKenzie (Lonestar Resources Limited)
Area: Capital markets
Key players: The Baker & McKenzie team was led by Sydney-based US corporate partner Andrew Reilly (pictured), with assistance from Guy Sanderson, Anna Kramer, Jeanie Chang, John Walker, Jun Au, Maria O'Brien and Heather Sandell in Sydney, Heath Trisdale in Houston as well as John McDonald and Meaghan Wolfe in Chicago.
Deal significance: Lonestar Resources Limited is an ASX-listed Australian corporation with oil and gas operations in Texas.
Lonestar Resources has been re-domiciled to Delaware to better align with the company's assets and operational management in the United States.
Lonestar Resources has also been listed on the global NASDAQ Stock Market (NASDAQ), which may result in improved valuation, better trading liquidity and lower share price volatility.
Its share price has been trading significantly higher since the first full day of trading on NASDAQ in early July.
“This transaction demonstrates our one-stop shop capability to support our clients,” lead partner Mr Reilly said.
“We were able to provide the necessary US and Australian law advice to our client to complete the re-domiciliation through Australian schemes of arrangement with a concurrent listing of the new Delaware parent company on NASDAQ, which involved registration with the US Securities Exchange Commission, in an effective and seamless manner.”
