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HopgoodGanim Lawyers advises on successful listings of Michael Hill and ChimpChange

HopgoodGanim Lawyers’ Capital Markets team has rung in the new financial year with two successful ASX listings in the retail and fintech sectors in the space of eight days. 

Michael Hill International (MHI)

On 7 July 2016, international retail jewellery chain, Michael Hill completed their corporate group’s restructure and redomicile from New Zealand to Australia, including the transition from a primary listing on the NZX to a primary listing on the ASX (with dual listing on the NZX).

The family owned business saw its first store in Whangarei, New Zealand, grow into a household name across borders and the group of companies owns the Michael Hill and Emma and Roe jewellery brands, with over 300 stores across Australia, New Zealand, the US and Canada. 

ChimpChange Limited (CCL)

Financial technology start up ChimpChange was also advised on their 30 June ASX listing by the HopgoodGanim’s Capital Markets team.

Founded by Australian Ashley Shilkin and operating out of Hollywood, CA, ChimpChange was founded to “respond to the rapidly changing landscape of banking, driven by technological advancement, smartphone adoption and evolving consumer expectations”.  HopgoodGanim liaised with USA attorneys Baird Holm in advising our client in their IPO, which will allow CCL to fund the continued development of the ChimpChange App and surrounding platforms, as well as funding customer acquisition and marketing. 

With recent warnings from ASIC indicating a worrying increase in defective prospectus’ (which they attribute to cost-cutting in the Prospectus due diligence process), the successful CCL IPO - in which the prospectus was unchallenged - denotes HopgoodGanim’s strong standing amongst Australia’s premier Corporate law practices.   

The successful listing of MHI and CCL were led by Partners Michael Hansel and Michele Muscillo respectively and represent the continuation of an already successful year for the team.  Assisting on the transactions were Senior Associates Luke Dawson and Richard Hanel, Solicitor David Hall and Law Graduate Billy Young (CCL); and Senior Associates Lea Fua and Katherine Hammond with Solicitors Anna Battams, Jessica Dale, Briar Francis (MHI).