Login
Financial tech company advised on IPO
Herbert Smith Freehills has advised Prospa on its multimillion-dollar initial public offering.
Emma Musgrave
Firm: Herbert Smith Freehills (Prospa Group Limited)
Value: Prospa’s IPO is priced at $3.64 a share, raising $146.5 million for a $576.3 million market capitalisation at the offer price.
Area: IPO
Key players: The Herbert Smith Freehills deal team was led by partner Philippa Stone, who was assisted by partner Philip Hart and solicitors Christian Bourke, Elizabeth Cameron, Michael Burrell, Lucinda Bradshaw and Vivek Mahadevan, and graduate Luca Moretti.
The firm’s team also included regulatory and governance specialists, including consultant Tony Coburn, senior associate Lauren Selby and solicitors Nicola Greenberg and Bianca Marcocci.
Deal significance: The financial technology company, Prospa, is Australia’s number one online lender to small businesses, according to a HSF statement.
Since 2012, the firm noted, it has lent over $500 million and served over 12,000 unique customers. During this time, the company’s net loan book has grown to over $200 million.
“We are delighted to have assisted Prospa on this important transaction,” said HSF partner Philippa Stone.
“It was exciting to work with such a dynamic company on its IPO, which is the latest in a number of important milestones in its rapidly developing business.
“We hope to continue to support Prospa as it commences life as an ASX listed company.”
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:
