Ropes & Gray Advises on MYOB’s Global Offering and Australian IPO
Ropes & Gray is acting as U.S. counsel in the global offering of shares and listing on the Australian Securities Exchange (ASX) of MYOB Group Limited (MYOB), a portfolio company of Bain Capital. The offering to retail and institutional investors raised total proceeds of approximately A$833 million, valuing the company at a total enterprise value of more than A$2.5 billion. Trading in MYOB’s shares on the ASX commenced on May 4, 2015.
Established in 1991, MYOB is Australia and New Zealand’s leading accounting software provider, and this is the largest IPO in the Australian market thus far this year.
Ropes & Gray previously represented Bain Capital in its acquisition of MYOB, which was one of the largest private equity divestments in Australia in 2011.
The Ropes & Gray team included tax partner Elaine Murphy (Boston); private equity associate Oliver Nip (Hong Kong); finance associate Andrew Wang (both of Hong Kong); and tax & benefits associate Nathan Anderson (Boston).