Firms: King & Wood Mallesons (joint lead managers), Gilbert + Tobin (Adore Beauty).

Deal: Adore Beauty has completed a successful initial public offering and ASX listing, bringing its market capitalisation to $635 million and an enterprise value of $615 million.

Value: $270 million.

Area: Corporate advisory.

Key players: The KWM team, advising the joint lead managers, was led by partner David Friedlander, who was assisted by special counsel Amanda Isouard and solicitor Gemma McMahon.

The G+T team was headed up by partner Rachael Bassil, who was supported by lawyers Olivia Blakiston, Matthew Coe, Clancy Bradshaw and Beverly Parungao, as well as partner Gail Christopher.

Deal significance: Mr Friedlandier said that KWM was “delighted” to have advised the joint lead managers in relation to this IPO.

“2020 has been an incredibly busy year for capital raisings and the firm has worked closely with both issuers and lead managers on many deals during this time,” he said.

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Ms Isouard noted that it was “great to see such a strong contingent of female professionals involved in the IPO, including from the law, accounting, banking and communications fields”.

Ms Bassil added that it was a “pleasure” advising Adore Beauty on what was an “incredible” transaction.

“We are particularly proud to be involved in a transaction that will see the first IPO of size brought to market with a female founder (Kate Morris) and female CEO (Tennealle O’Shannessy). The majority of the directors are women, the CFO and COO are women and the advisor teams were largely led by women. In a business environment that is still dominated by men this has been a really fabulous experience,” she said. 

“We are so proud to be involved with a company and leadership team who take a values-driven approach that shows in everything they do. A great example of authentic leadership. We look forward to watching Adore Beauty continue to grow and succeed as an ASX listed company”.