Herbert Smith Freehills is advising Citigroup Global Markets Australia Pty Limited and UBS AG, Australia Branch in relation to their role as joint lead managers and underwriters of Veda Group Limited’s (Veda) initial public offering (IPO) and listing on the Australian Securities Exchange.

Veda is a data analytics company and the leading provider of credit information and analysis in Australia and New Zealand. It is a portfolio company of leading Australian private equity firm, Pacific Equity Partners (PEP), who acquired the company as part of a consortium with Merrill Lynch Global Private Equity Fund in 2007. Following the offer, the PEP entities will retain a holding of 63.5% of the issued capital of Veda.

Veda was listed on the ASX on 5 December 2013 with a market capitalisation of A$1.05 billion (based on the offer price of A$1.25 per ordinary share).

The Herbert Smith Freehills team was led by Partner Philippa Stone and Executive Counsel Lauren Magraith, assisted by Solicitor John Blake.

Ms Stone said “The Veda IPO is another example of the increasingly resurgent IPO market we are seeing in the second half of 2013. Herbert Smith Freehills is delighted to have acted for Citi and UBS on this important transaction”.

Veda are being advised by Allen & Overy. 

Herbert Smith Freehills’ capital markets team has also recently acted for the PACT Group on its A$1.12 billion IPO, for the McAleese Group on its A$166 million IPO, for the joint lead managers on 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.

Herbert Smith Freehills’ Australian capital markets team has also recently acted for the joint lead managers on AMP Limited’s A$200 million offer of Subordinated Notes 2, 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 the joint lead managers on Westpac Banking Corporation’s A$925 million offer of Subordinated Notes II, for ASX Limited on its A$553 million entitlement offer, for the joint lead managers on Australia and New Zealand Banking Group Limited’s A$1.12 billion offer of new Tier 1 hybrid securities, for Commonwealth Bank of Australia on its A$2 billion offer of PERLS VI (and concurrent PERLS IV buy-back and Reinvestment Offer), for Bendigo and Adelaide Bank on its A$269 million issue of Convertible Preference Shares and concurrent Reset Preference Share Reinvestment Offer (the PERLS VI and BEN CPS issuances being the first two fully Basel III compliant Australian bank hybrids), for the joint lead managers on Macquarie Group Limited’s A$600 million offer of Macquarie Capital Notes, for the joint lead managers on National Australia Bank’s A$1.5 billion offer of CPS, for Ten Network Holdings Limited on its A$200 million entitlement offer and its A$230 million entitlement offer, for the joint lead managers on Westpac Banking Corporation’s A$1.25 billion Capital Notes offer, for the joint lead managers on Westpac Banking Corporation’s A$1.5 billion offer of Tier 2 Westpac Subordinated Notes and for the joint lead managers on ANZ’s A$1.5 billion offer of ANZ Subordinated Notes.