Our in-depth understanding of factors affecting the securities markets enables us to advise on the full range of debt and equity transactions. Simpson Grierson's extensive capital markets practice covers multi-million dollar IPOs, capital notes issues, bond issues and rights issues. We have taken the lead on many of New Zealand's largest public offerings of securities.

Our capital markets experts advise issuers and arrangers on:

• IPOs - including the preparation and verification of offering documents, due diligence investigations and underwriting agreements
  
  
• NZX - listing and quotation of securities on the Stock Market (NZSX), Debt Market (NZDX) and Alternative Market (NZAX) of New Zealand Exchange Limited (NZX) and implications of offers and transactions by listed issuers under the Listing Rules
  
  
• Small transactions – we have been at the heart of a number of capital raisings by new technology businesses
  
  
• Overseas offers – advice and assistance in relation to the New Zealand law implications of offers made by overseas issuers
  
  
• Public issues – statutory and regulatory compliance for public offerings of debt and equity securities
  
  
• Managed funds – including superannuation products and investment adviser disclosure issues

Recent large, complex and high-profile transactions in the capital markets area with which we have been involved include:

• MFS/Tourism Holdings:  Advising MFS Living & Leisure Group on its takeover offer for Tourism Holdings, valuing the target company at NZ$277 million
  
  
• Dorchester:  Advising Dorchester on its  acquisition of a 25% stake in St Laurence, the placement of a 13% interest in Dorchester to St Laurence Mortgage Holdings and associated grant of various put and call options
  
  
• Goldman Sachs JBWere:  Advising Goldman Sachs JBWere on its NZ$18 million secondary placement of shares in Cavotech MSL Holdings
  
  
• Toll:  Advising Toll Holdings on New Zealand securities law and separation aspects of the ACCC-required spin-off of assets into Asciano, involving the issuance of an ASX-listed stapled share/ unit, including obtaining exemption relief from the NZ Securities Commission
  
  
• King Country Energy:  Advising on the potential partial takeover offer for King Country Energy and dealing with implications of Todd takeover offer
  
  
• Oceana Gold:  Advising on New Zealand legal aspects of a placement by Oceana Gold of A$70 million of convertible notes
  
  
• Gullivers Travel Group:  Advising Gullivers Travel Group on its target company response to Australian travel and property management company S8's takeover offer, valuing Gullivers at NZ$235 million
  
  
• GPG Finance:  Advising on GPG Finance Plc's exchange offer and general offer of NZ$350 million of capital notes 
  
  
• Private Health Care/Metlifecare:  Advising Private Health Care New Zealand in respect of the disposal of its 25 per cent stake in Metlifecare Limited and resultant public bid, deal value approximately NZD340.5 million
  
  
• Gullivers Travel/Pacific International:  Acting for Gullivers Travel Group Limited on the acquisition of the travel businesses of Pacific International Holdings Limited
  
  
• New Zealand Wine Fund:  Advising on NZD10 million aquisition of Goldwaters
  
  
• Gullivers Travel Group:  Advising New Zealand's largest outbound travel business, Gullivers Travel Group, on its initial public offering of shares and listing on both the New Zealand and Australian Stock Exchanges, valuing the business at NZD160 million
  
  
• Methven:  Advising Auckland-based tap, showerware and valving designer and manufacturer, Methven, on its NZD36.2 million initial public offering and listing on the NZSX market
  
  
• Neuren:  Advising New Zealand biotech company Neuren Pharmaceuticals on its initial public offering to raise AUD15 million and proposed listing on the Australian stock exchange
  
  
• Pumpkin Patch:  Advising Pumpkin Patch in its 2004 public float, successfully raising over NZD100 million
  
  
• GRD NL/Oceana Gold:  Advising on the trans-Tasman sale and initial public offering of 44.4% of Oceana Gold (owner of the Macraes Flat gold mine and other NZ gold prospects) by GRD NL, incorporating an AUD50 million sell-down, an AUD50 million new issue and AUD60 million issue in consideration of a share buy-back by GRD NL, giving total effective offer proceeds of AUD160 million
  
  
• Rural Portfolio Investments:  Advising Rural Portfolio Investments on its partial takeover offer for Wrightson, involving the issue of up to NZD100 million in redeemable preference shares to fund the partial takeover offer
  
  
• Promina:  Advising on the NZD2.1 billion IPO of Promina (formerly known as Royal & SunAlliance), leading to the first dual listing of an Australian company with primary listing on the NZX
  
  
• Westpac:  Advising Westpac Banking Corporation on a AUD600 million capital raising by the issue of fixed interest resettable trust securities, traded on the Australian Stock Exchange

For further details of capital markets work, see our track record of corporate advisory matters.

Capital markets projects demand teamwork, and attention to detail and to deadlines. We meet these demands and have a reputation for working cohesively with clients and advisers to achieve common objectives and meet tight timeframes.

In keeping with our proactive approach, we have been closely involved with the law reform process in the securities markets including providing regulators with a practical market perspective in developing their law reform proposals. We keep our clients up to date on new developments such as changes to the NZX Listing Rules and the Securities Markets Act.