Hamilton Locke Recognised in Financial Times Asia-Pacific Awards
We are delighted to announce Hamilton Locke's Managing Partner, Nick Humphrey was a finalist for…
Hamilton Locke acted for ASX-listed Raiz Invest Limited, Australia’s largest mobile-first financial services platform, on its acquisition of Superestate Pty Ltd. Superestate houses a residential property investment platform for superannuation funds and other investors, which will complement Raiz’s current customer offerings. The acquisition price will be settled through the issue of 5.3 million Raiz shares, valuing Superestate at around $10 million.
Following this first acquisition in the 5 years since its IPO, Raiz has undertaken a capital raise through a $10 million placement to institutional investors and a $3 million share purchase plan for retail shareholders, as announced to ASX: https://www2.asx.com.au/markets/company/RZI.
Commenting on the transaction, Hamilton Locke partner, Guy Sanderson said: “We are very pleased to have acted for Raiz on this significant transaction. Raiz is a fast growing and innovative business, and adding residential property as an investment class on the platform further sets them apart from the pack, in the same way as when they added Bitcoin as an investment option. We are excited to be part of their journey towards $1 billion in funds under management.”
The team at Hamilton Locke was led by Partner Guy Sanderson, who was assisted by Lawyers Kajal Tulsi and Hugo Zicat on the corporate and capital markets team. The employment team was led by Partner James Simpson, assisted by Senior Associate Timothy Zahara and the IP team was led by Partner Sarah Gilkes, who was assisted by Senior Associate Ben Cameron and Lawyer Charlotte Olsen.