HWL Ebsworth Lawyers has advised Simonds Group on its Initial Public Offering (IPO) on the Australian Securities Exchange (ASX) of 90.4 million shares, valued at $1.78, raising a total of $161 million. Shares in Simonds Group are scheduled to begin trading on 17 November 2014 under the ASX code SIO. The market capitalisation at the offer price values the company at $269.5 million.

Melbourne-based corporate lawyers Thomas Kim (Partner) and David Woodford (Senior Associate) led the capital markets transaction, which also involved teams in Adelaide, Brisbane and Sydney across a range of areas including building and construction, banking and finance, tax, real property and intellectual property.

Established in 1949, Simonds Group has two main business streams. Simonds Homes is best known as the largest home builder in the state of Victoria, and is also active in Queensland, South Australia and New South Wales. Simonds Group also recently established Builders Academy Australia, a vocational education and training business, with the goal of further developing skills and talent for future growth of the building industry.

Leon Gorr (Partner, Melbourne) has been involved with Simonds Group over many years and is currently a Non-Executive Director. Leon was involved in assisting the Simonds family to transition from a successful family business with 65 years of history to a public company.