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Specialist fund manager lists on ASX

Specialist fund manager lists on ASX

ASX

Mills Oakley has advised a specialist fund manager on its initial public offering and listing on the Australian Securities Exchange. 

Firm: Mills Oakley (Microequities Asset Management Group Limited) 

Deal: Microequities Asset Management Group Limited (Microequities) has been advised on its initial public offering and listing on the Australian Securities Exchange (ASX).

Value: $106.4 million

Area: IPO, finance

Key players: The Mills Oakley legal team was led by partner Iain Laughland, with assistance from associate Renee Gilead and lawyer Justin Liang.

Deal significance: Founded in 2006, Microequities is described as a specialist microcap and small cap fund manager that manages funds exclusively for wholesale and sophisticated investors.

According to a statement from Mills Oakley, Microequities has experienced rapid growth in recent times, increasingly its funds under management from $58 million in 2014 to $442 million as at 31 December 2017.

The IPO of Microequities marks one of the largest non-LIC floats on the ASX this year to date, Mills Oakley said.

“We were delighted to be selected to assist Microequities with its strategic objective of achieving a listing on ASX within a short timeframe," said partner Iain Laughland.

"We have enjoyed working closely with Microequities’ management and its other advisers in helping deliver on the company’s commercial imperative. We wish the company and its shareholders every success as Microequities continues its rapid growth journey.”

Carlos Gil, founder and CEO of Microequities added: “An IPO can potentially be a disruptive event for a business. Microequities is a highly focused enterprise and, due to the professionalism and expertise of Mills Oakley and its team, we were able to successfully IPO whilst maintaining the focus in our business.”

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