DibbsBarker advises renewable energy development company Windlab on its $50 million IPO and listing on the ASX
DibbsBarker has acted for Windlab on its fully underwritten and oversubscribed initial public offering and listing on the ASX, raising $50 million. Windlab is an international renewable energy development company, focusing on identifying and efficiently developing, financing, constructing and operating high quality wind farms around the world.
Half the funds raised will go to shareholders realising part of the investment in Windlab and the other half to Windlab.
Windlab plans to use its half of the capital raised by the IPO to finance the first phase of the Kennedy Energy Park project in North Queensland, which is expected to reach financial close in the coming months and commence operations in late 2018.
Windlab expects to begin trading on the ASX on 23 August 2017. At listing, Windlab will have a market capitalisation of $135 million based on its offer price of $2 per share.
Moelis Australia were the lead manager and underwriter for the IPO.
DibbsBarker’s lead partner Geoff Cairns said: “We have worked with Windlab for more than 10 years, since the company's earliest days as a start-up. It has been wonderful to watch and be part of Windlab’s growth over the past decade including their successful IPO. We are delighted to have supported our long-standing client on achieving such a significant milestone.”
“Geoff and the team at DibbsBarker ran a very efficient transaction,” stated Roger Price, Chairman and Chief Executive Officer of Windlab. “We have benefited from DibbsBarker’s strong commercial approach to both our IPO and the series of corporate financing steps that took us from start-up to being a listed, profitable, growing business in a very exciting sector.”
For more information, please contact:
Amanda Parks | Communications Manager
T +61 2 8233 9704