Herbert Smith Freehills is pleased to be advising Macquarie Capital (Australia) Limited and UBS AG, Australia Branch in relation to their role as joint lead managers of Mantra Group Limited’s (Mantra Group) initial public offering (IPO) and listing on the Australian Securities Exchange.

Operating 113 properties and more than 11,600 rooms in hotels, resorts and serviced apartments across Australia, New Zealand and Indonesia, Mantra Group operates Australia’s second largest network of accommodation properties. Mantra Group is a portfolio company of Hong Kong private equity firm CVC Asia Pacific Limited and UBS Australia Holdings Pty Limited, who acquired the hotel operator in 2008. Following the completion of the IPO, CVC, UBS and other management shareholders will retain approximately 46.7% of the shares in Mantra Group.

Mantra Group lodged a prospectus for the IPO with the Australia Securities and Investments Commission on Friday 30 May 2014 with an indicative market capitalisation of A$449 million (based on a share price of A$1.80 per share). Mantra Group is expected to list on the ASX on 20 June 2014.

The Herbert Smith Freehills team was led by partner Philippa Stone and executive counsel Lauren Magraith, assisted by senior associate Lucy Hall.

Ms Stone said: ‘Mantra Group’s recent listing is another example of the strong support for the Australian IPO market in 2014. Herbert Smith Freehills is delighted to have again acted for Macquarie and UBS on this important transaction. The resurgence in Australia’s IPO market looks set to continue and we look forward to assisting our clients to raise capital for the remainder of 2014.’

Mantra Group are being advised by Gilbert + Tobin.

Herbert Smith Freehills’ capital markets team is one of the most active in Australia, having recently acted for Genworth Financial on Genworth Australia’s A$1.6 billion, Japara Healthcare Limited on its A$525m IPO, SG Fleet on their A$454.2 million IPO, the PACT Group on its A$1.12 billion IPO, the 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, OzForex Group’s A$439 million IPO, for the sole lead manager on National Storage REIT’s A$240 million IPO and for the joint lead managers on iSelect’s A$215 million IPO and for Calibre Group on its A$477 million IPO.

Herbert Smith Freehills’ Australian capital markets team has also recently acted for the sole lead manager on Aveo Healthcare Limited’s A$232 million entitlement offer, for the sole lead manager on ALS Limited’s A$246 million entitlement offer, for ASX Limited on its A$553 million entitlement offer and for Ten Network Holdings Limited on its A$200 million entitlement offer and its A$230 million entitlement offer.