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Bakers advises Eastern Star Gas on $50M placement

Baker & McKenzie has advised Eastern Star Gas Limited on its $50 million equity placement, announced on 17 March 2009. The placement coincided with the company entering the ASX200. The…

user iconLawyers Weekly • 24 March 2009 • Big Law
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Baker & McKenzie has advised Eastern Star Gas Limited on its $50 million equity placement, announced on 17 March 2009. The placement coincided with the company entering the ASX200.

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The capital raising comprised an underwritten placement to institutional and international investors.

The Bakers team was led by Sydney capital markets partner David Holland, corporate partner David Ryan and US securities partner Andrew Reilly, also based in Sydney.

Commenting on the placement, David Holland said: "We are extremely pleased that we were able to assist Eastern Star Gas on this important capital raising, which helps fund the next phase of their growth.

"The success of the offering shows that emerging companies can effectively tap equity markets during these challenging times."

Bakers advised Eastern Star Gas earlier in the year, acting on its establishment of a Level 1 American Depositary Receipt program in January.

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