S&C Advises Underwriters in IPO of Australia’s NuixDecember 18, 2020
Nuix Limited completed its A$953 million (approximately US$700 million) initial public offering and listing of its shares on the Australian Securities Exchange on December 8, making it the largest Australian IPO since Viva Energy Group Limited's IPO in 2018.
The offer comprised A$276 million raised in a primary offering and A$677 million raised in a secondary offering by certain existing shareholders, including a subsidiary of Macquarie Group Limited, Nuix's largest shareholder. S&C represented the joint lead managers, Macquarie Capital (Australia) Limited and Morgan Stanley Australia Securities Limited.
Nuix is a leading provider of investigative analytics and intelligence software to customers in 78 countries. Over the past 15 years, Nuix software has been used in investigations into some headline events, including the Panama Papers, the Royal Commission into Misconduct in the Banking, Superannuation and Financial Service Industry in Australia, organized crime rings, corporate scandals and terrorist activities.
The cross-border S&C team was led by Wally Jones (Sydney) and included associates Benjamin Fleming (Melbourne) and Vanessa Wang (Sydney). Jeff Hochberg (New York) and special counsel Saul Brander (New York) advised on U.S. tax matters. Special counsel Tracey Russell (New York) and European counsel Sophie Moeder (Frankfurt) advised on certain FINRA and private placement matters, respectively.