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Herbert Smith Freehills is proud to have advised SILK Laser Australia Limited (SILK) on its A$83.5 initial public offering (IPO).

Founded in 2009, SILK is one of Australia’s largest specialist clinic networks offering a range of non-surgical aesthetic products and services, operating through a current total of 53 clinics in its network throughout metropolitan and regional Australia.

SILK commenced trading on the Australian Securities Exchange on 15 December 2020, under the ticker ‘SLA’.

The Herbert Smith Freehills team was led by Michael Ziegelaar and supported by senior associate Jennifer Wong and solicitors Jessica Voong, Sam Tansley and Amy Pereira.

Herbert Smith Freehills partner Michael Ziegelaar said, “We congratulate SILK on its successful IPO. We look forward to continuing to work with the SILK board and management team in the future, as they continue to execute SILK’s growth plan as one of Australia’s largest specialist clinic networks. We wish them every success as a listed company.”

Wilsons and Ord Minnett acted as joint lead managers on the IPO, and Highbury Partnership was financial adviser. Grant Thornton also acted as Investigating Accountant and tax and stamp duty due diligence adviser.

SILK’s impressive growth journey has been supported by major shareholder Advent Partners, who retained a significant shareholding in the company following the IPO.

Herbert Smith Freehills partner Raji Azzam, who has worked for many years with Advent Partners, said, “We are very pleased that the Herbert Smith Freehills team was able to assist both the SILK and Advent teams on this significant milestone for SILK.”

This deal is another example of Herbert Smith Freehills’ market-leading work in equity capital market transactions. Other recent examples include the Booktopia, Top Shelf, Dalrymple Bay and Dusk IPOs.

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