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Herbert Smith Freehills is proud to have advised Dusk Group Limited (dusk) on its initial public offering (IPO), priced at A$2.00 a share, raising $70 million for a $124.5 million market capitalisation (at the offer price).

dusk is Australia’s leading omni-channel speciality retailer focused on home fragrance products, including candles, reed diffusers, essential oils, electronic diffusers and air purifiers, and fragrance related homewares.

The deal team was led by partner Philippa Stone and senior associate Alex Mackinnon, who were assisted by solicitor Jessica Palazzolo and governance specialists, senior associate Lauren Selby and solicitor Jessica Ginberg.

Philippa Stone said, “We are very pleased to have assisted dusk on what is a significant milestone in the life of the company. It was a great pleasure to work with the company and we look forward to continuing our relationship as they commence their life as an ASX listed company.”  

Alex Mackinnon said, “We congratulate the dusk team on this significant achievement. The IPO process went very smoothly which was testament to the collaborative approach and hard work from everyone involved.”

Canaccord Genuity and Shaw and Partners acted as joint lead managers on the IPO, and Allier Capital was financial adviser.

This transaction is a testament to Herbert Smith Freehills’ market-leading position, not only in relation to complex equity capital markets transactions but also as an advisor to Australia’s leading retail companies.