Herbert Smith Freehills has advised Adairs Limited (Adairs) on its successful A$220 million initial public offering (IPO) and listing on the ASX on 17 June 2015 with a market capitalisation of A$400 million at the offer price.

Adairs is a leading specialty retailer of homewares and home furnishings in Australia, which operates 131 stores Australia wide across a multi-format physical store network.

This IPO again highlights the strength of Herbert Smith Freehills’ market leading equity capital markets team and its broader capabilities. Melbourne based partner Richard Loveridge led the transaction. Richard was supported by senior associate Cecilia Mehl and solicitors Lauren Faba and Andrew Earle, as well as other specialists, including head office advisory experts Stefanie Wilkinson and Amy Henderson and banking experts Emma de Carle and Charlotte Alexander.

Prior to the IPO, Herbert Smith Freehills advised Adairs on its corporate restructure and refinancing of its banking facilities.

Richard Loveridge said: “We are delighted to have been involved with the Adairs IPO. It was a pleasure to work with private equity investors Catalyst, Brett Blundy and a really dedicated management team at Adairs. We wish Adairs every success as a listed company and look forward to continuing to work with Adairs in the future.”

Goldman Sachs Australia Pty Ltd and UBS, AG, Australia Branch each acted as Joint Lead Manager and Underwriter on the offering.