Herbert Smith Freehills has advised Japara Healthcare Limited on its A$525m initial public offering on the Australian Securities Exchange. Macquarie Capital acted as lead manager and underwriter and CBA Equities Limited and Morgans Corporate Limited were each co-lead managers.

This offering included a corporate restructure to amalgamate the operating entities and the property investment trust of the Japara group under the new listed company.

Japara is one of the largest residential aged care operators of healthcare services in Australia servicing over 3,000 residents nationally across 35 facilities located in Victoria, New South Wales, South Australia and Tasmania.

Andrew Sudholz, CEO of Japara, said, “We are pleased with the outcome of our IPO and thank all our advisers for making this complex transaction a smooth process.”

The transaction was led by Herbert Smith Freehills’ co-head of equity capital markets Michael Ziegelaar, senior associate Cecilia Mehl and solicitor Andrew Earle. Hebert Smith Freehills banking experts Dan Brealey and Christine Joo, head office advisory experts Priscilla Bryans and Stefanie Wilkinson, employee relations expert Natalie Perrin, healthcare expert Natalie Bryce and property expert Sebastian Renato were also part of the team.

Michael Ziegelaar said, “It has been really rewarding to contribute to Japara’s success, having worked closely with Japara since 2007. We wish Japara every success as a listed company and look forward to continuing to work together with them.”