Herbert Smith Freehills has advised SurfStitch Group Limited (SurfStitch) in relation to its initial public offering and listing on the Australian Securities Exchange (ASX). The offer consists of an institutional offer, broker firm offer and chairman’s list offer (Offer) and values SurfStitch at A$182.8 million at the offer price of A$1.00 per share.

SurfStitch is one of the leading pure play online action sports retailers globally. It is the only major pure play online action sports retailer in Australia and New Zealand, and has developed a growing presence in the European and the United States of America online markets. SurfStitch provides over 700 brands and 30,000 products to consumers in more than 125 countries.

SurfStitch listed on the ASX on 16 December 2014.

The Herbert Smith Freehills team was led by partners Philippa Stone, Bradley Russell and Philip Hart and assisted by senior associate Lucy Hall, and solicitors Hayden Guthrie, Jacqueline Pollard, Thomas Cooper and Alanna Lofthouse.

“It is great to have been involved in SurfStitch’s listing as the only pure play online action sports retailer to be listed on the ASX,” Ms Stone said.

Mr Hart added “We have been working with SurfStitch for a number of years so it is fantastic to have assisted them to reach this important milestone”.

The Offer is being managed and underwritten by J.P. Morgan Australia Limited (Lead Manager). The Lead Manager is being advised by Baker and McKenzie.

Herbert Smith Freehills’ capital markets team has also recently acted for oOh!media on its A$365.5 million IPO, the Commonwealth of Australia on the A$5.9 billion Medibank Private IPO, Aconex on its A$312.3 million IPO, Healthscope on its A$3.6 billion IPO, Speedcast on its US$263.0 million IPO, Genworth Financial on Genworth Australia’s A$1.6 billion IPO, Japara Healthcare Limited on its A$525m IPO, SG Fleet on its A$454.2 million IPO, PACT Group on its A$1.12 billion IPO, Industria REIT on its A$250 million IPO, iBuy on its A$115 million IPO, McAleese Group on its A$166 million IPO, for the joint lead managers on Spotless Group’s A$1.9 billion IPO, Veda’s A$1.05 billion IPO and OzForex Group’s A$439 million IPO, for the sole lead manager on National Storage REIT’s A$240 million IPO, for the joint lead managers on iSelect’s A$215 million IPO and for Calibre Group on its A$477 million IPO.