Login
Australian Clinical Labs lists on ASX
National law firm Gilbert + Tobin has advised Australian Clinical Labs (ACL) on its $408.6 million IPO and listing on the ASX.
Emma Musgrave
To continue reading the rest of this article, please log in.
Create a free account to get unlimited news articles and more!
Firm: Gilbert + Tobin (Australian Clinical Labs).
Deal: Australian Clinical Labs has launched an IPO and listed on the ASX.
Value: $408.6 million.
Area: Corporate, finance.
Key players: The legal team advising ACL was led by Gilbert + Tobin corporate advisory partner John Williamson-Noble, with assistance from senior lawyer Mary Brady and lawyers David Konstantopoulos, Thomas Kannan and Jackson Martin.
Deal significance: ACL was admitted to the ASX on a conditional and deferred settlement basis on 14 May 2021.
The group is described as being the third-largest private pathology provider in Australia by revenue, “servicing over 90 private and public hospitals”. The group annually collects, analyses and reports on 8.3 million episodes via its national network of 995 collection centres, 30 SunDoctors clinics and 86 accredited laboratories, a statement from Gilbert + Tobin explained.
This transaction saw ACL raise $408.6 million at the offer price of $4.00 per share.
“On admission to the official list of ASX, ACL had a market capitalisation of $809.3 million and an enterprise value of $902.6 million,” the statement from Gilbert + Tobin added.
Lead partner, Mr Williamson-Noble, noted: “We are delighted to have assisted ACL in reaching this significant milestone.
“ACL’s Board, management and people have shown expertise and innovation in transforming the ACL business, navigating the COVID-19 pandemic and positioning the business for further success.
“We look forward to the next chapter of ACL’s growth as an ASX listed company in a growing pathology sector.”
Emma Musgrave
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
Email Emma on:
