HWL Ebsworth has advised Pentanet Limited on its successful IPO and recent ASX listing.
Pentanet, a Western Australian internet service provider established in 2017, raised $22.5 million at a price of 25 cents under its IPO. Shares in Pentanet began trading on 29 January 2021 under the ASX code 5GG. Initial trading has been very positive, with Pentanet’s share price closing at 59 cents at the end of the first day of trading.
Funds raised from Pentanet’s IPO will be used to expand its flagship fixed-wireless network, the largest in Perth.
Pentanet’s ASX listing marks the first IPO in 2021 for HWL Ebsworth’s WA equity capital markets team. This follows on from the team’s strong performance last year, ranking first amongst legal advisors for working on the highest volume and highest value of WA based ECM transactions in 2020, including 9 IPOs. Read more here.
Perth-based corporate lawyer David Naoum (Special Counsel) led the Pentanet transaction, with support from Adrienne Mallinson (Solicitor).
Read the ASX announcement here.
Note to Editors:
HWL Ebsworth is the largest legal partnership in Australia according to the most recent partnership surveys published by the Australian Financial Review.
The firm comprises 1,368 staff including 257 Partners, 774 other legal staff and 337 support staff across offices in nine locations – Adelaide, Brisbane, Canberra, Darwin, Melbourne, Hobart, Norwest (North West Sydney), Perth and Sydney.
HWL Ebsworth is an independent, nationally integrated, full service commercial law firm, providing tailored and commercially oriented legal services.
HWL Ebsworth operates a different business model to the other leading national law practices, and this allows us to offer unrivalled value for money without compromising quality and service. Our low ratio of solicitors to partners ensures that our clients receive optimal access to partner resources for all matters.
For further information, please contact:
Russell Mailler, National Marketing Manager (03) 8644 3569 or rmailler@hwle.com.au