Closed IPOs


Macquarie Group Capital Notes 4 Bids Open

Offer closed: 26 February 2019

Macquarie Group Limited (MGL or the Issuer) has lodged with the Australian Securities and Investments Commission (“ASIC”) a Prospectus (“Offer Document”) in relation to an offer of fully paid, unsecured, subordinated, non-cumulative, mandatorily convertible notes by Macquarie Group Limited (MGL or the Issuer). The Offer size is A$500 million, with the ability to raise more or less.


CommBank PERLS XI Capital Notes Offer

Offer closed: 7 December 2018

Commonwealth Bank of Australia (“CBA” or “Issuer”) has lodged with the Australian Securities and Investments Commission (“ASIC”) a Prospectus (“Offer Document”) in relation to an offer of subordinated, unsecured notes issued by CBA (“PERLS XI”) (“Offer”). The Offer size is A$750 million, with the ability to raise more or less.


Hearts and Minds Investments Limited Initial Public Offer

Offer closed: 22 October 2018

Hearts and Minds Investments Limited (“Hearts and Minds” or “Company”). The Offer of Shares (“Securities”) is made under the Prospectus dated 28 September 2018 (“Offer Document”) which has been lodged with the Australian Securities and Investments Commission. Commonwealth Securities Limited (“CommSec”) is acting as Lead Arranger and Joint Lead Manager to the Offer.


Firetrail Absolute Return Limited Initial Public Offer

Offer closed: 19 October 2018

Firetrail Absolute Return Limited has lodged with the Australian Securities and Investments Commission ("ASIC") a Prospectus dated 11 September 2018 ("Offer Document"). Commonwealth Securities Limited ("CommSec") is acting as the Lead Arranger and a Joint Lead Manager to the Offer.


Tribeca Global Natural Resources Ltd Initial Public Offer

Offer closed: 26 September 2018

Tribeca Global Natural Resources Ltd has lodged with the Australian Securities and Investments Commission ("ASIC") a Prospectus dated 24 August 2018 (“Offer Document”) for a maximum subscription of $300,000,000. Commonwealth Securities Limited (“CommSec”) is acting as the Lead Arranger and a Joint Lead Manager to the Offer.


Macquarie Group Capital Notes 3 Offer

Offer Closed: 10 May 2018

Macquarie Group Limited (“Macquarie” or “Issuer”) has lodged with the Australian Securities and Investments Commission (“ASIC”) a Prospectus dated 7 May 2018 (“Offer Document”) in relation to an offer (“Offer”) of unsecured notes issued by Macquarie (“MCN3” or “Securities”). The Offer size is A$600 million, with the ability to raise more or less.


MCP Master Income Trust - Offer for New Units

Offer Closed: 26 March 2018

The Trust Company (RE Services) Limited (ACN 003 278 831; AFSL 235 150) on behalf of the MCP Master Income Trust has announced an offer to apply for new units in the Trust. The Offer is made under a Product Disclosure Statement (PDS) dated 26 February 2018 which was lodged with the Australian Securities and Investments Commission (ASIC) on or around that date.


CommBank PERLS X Capital Notes Offer

Offer Closed: 9 March 2018

Commonwealth Bank of Australia has lodged with the Australian Securities and Investments Commission a Prospectus dated 7 March 2018 in relation to an offer of subordinated, unsecured notes issued by CBA (PERLS X or Securities). The Offer size is approximately A$750 million, with the ability to raise more or less.


Westpac Capital Notes 5 – Reinvestment Offer

Offer Closed: 2 March 2018

Westpac Banking Corporation (“Westpac” or “Issuer”) has lodged with the Australian Securities and Investments Commission (“ASIC”) a Prospectus dated 5 February 2018 (“Offer Document”) in relation to an offer (“Offer”) of unsecured notes issued by Westpac (“Notes” or “Securities”). The Offer size is A$750 million, with the ability to raise more or less.

Westpac Capital Notes 5 Offer

Offer Closed: 12 February 2018

Westpac Banking Corporation (“Westpac” or “Issuer”) has lodged with the Australian Securities and Investments Commission (“ASIC”) a Prospectus dated 5 February 2018 (“Offer Document”) in relation to an offer (“Offer”) of unsecured notes issued by Westpac (“Notes” or “Securities”). The Offer size is A$750 million, with the ability to raise more or less.


Bank of Queensland Capital Notes Reinvestment Offer

Offer Closed: 28 November 2017

Bank of Queensland Limited (“BOQ” and “Issuer”) has lodged with the Australian Securities and Investments Commission (“ASIC”) a Prospectus dated 22 November 2017 (“Offer Document”) in relation to an offer (“Offer”) of unsecured notes issued by BOQ (“Capital Notes” or “Securities”). The Offer size is A$300 million, with the ability to raise more or less.

As part of the Offer, registered holders of Convertible Preference Shares (“CPS”) as at 7:00pm (Sydney time) on 17 November 2017 (“Eligible CPS Holders”) have the opportunity to reinvest some or all of their CPS in Capital Notes (“Reinvestment Offer”)1. CPS were issued by BOQ on 24 December 2012 and trade on ASX under the code "BOQPD". Eligible CPS Holders who elect to participate in the Reinvestment Offer will have their CPS bought back by BOQ and the proceeds applied to the acquisition of Capital Notes2. Eligible CPS Holders who elect not to participate in the Reinvestment Offer will continue holding CPS, subject to the CPS Terms (defined in the Offer Document).


Spheria Emerging Companies Limited Initial Public Offer

Offer Closed: 17 November 2017

We are pleased to present you with the initial public offering (“Offer”) of Spheria Emerging Companies Limited (“Spheria” or “Company”). The Offer is made under the Prospectus dated 10 October 2017 (“Prospectus”) which has been lodged with the Australian Securities and Investments Commission for a maximum subscription of $250,000,000. Commonwealth Securities Limited (“CommSec”) is acting as a Joint Lead Manager to the Offer.

Spheria Asset Management Pty Ltd (‘The Manager’) is the investment manager of the Spheria Australian Smaller Companies Fund, the Spheria Australian Microcap Fund and the Spheria Opportunities Fund, and manages approximately $384 million (as at 31 August 2017) across these funds.


Magellan Global Trust Initial Public Offer

Offer Closed: 22 September 2017

We are pleased to present you with the initial public offering (“Offer”) of the Magellan Global Trust (“Trust”). The Offer is made under the PDS dated 21 August 2017 (“PDS”) which has been lodged with the Australian Securities and Investments Commission. Commonwealth Securities Limited (“CommSec”) is acting as a Joint Lead Manager to the Offer.

Magellan Financial Group Limited (“Magellan”) was established by Hamish Douglass in 2006 and has grown to manage over $50bn of capital in global equities.


Offer of MCP Master Income Trust

Offer Closed: 14 September 2017

We are pleased to present you with factual information about an offer by The Trust Company (RE Services) Limited (ACN 003 278 831) ("Responsible Entity") ("Issuer") on behalf of the MCP Master Income Trust ARSN 620 465 090 ("Trust") for units in the newly established Trust. The Trust is an Australian registered managed investment scheme.

The Responsible Entity is seeking to raise up to $500 million through the issue of Units. To Manage the affairs of the Trust the Responsible Entity has appointed: Metrics Credit Partners Pty Ltd ACN 150 646 996; AFSL 416 146 (MCP or Manager) as manager of the Trust under an Investment Management Agreement.


VGI Partners Global Investments Limited

Offer Closed: 31 August 2017

We are pleased to present you with factual information about an offer by VGI Partners Global Investments Limited (ACN 619 660 721) ("Company") via an initial public offering to apply for up to 150,000,000 fully paid ordinary shares ("Shares") ("Offer"). Commonwealth Securities Limited ("CommSec") has been appointed as a Joint Lead Arranger and Joint Lead Manager to the Offer.

Founded by Robert Luciano in 2008, VGI Partners Pty Limited ("Manager") aim to provide investors with capital growth over the long-term through investing in a concentrated portfolio of global listed securities. Today, the VGI Partners Investment team comprise nine professionals between Sydney and New York, and manage $1.1 billion of assets for high net-worth individuals, families and endowments.