King & Wood Mallesons strengthens fintech reputation with Payright IPO

Current site :    AU   |   EN
China Hong Kong SAR
United Kingdom
United States

Payright's successful initial public offering makes it the latest to benefit from King & Wood Mallesons' leading financial technology, regulatory and equity capital markets expertise.

Melbourne-based company Payright is an emerging player in the fast-evolving buy now pay later (BNPL) sector, with a focus on mid-size consumer purchases.

Payright shares are expected to begin trading on ASX on 23 December 2020.

The KWM team advising Payright was led by Partners David Eliakim and Nicola Charlston, Senior Associate Anthony Boogert and supported by solicitors Rhiannon Parker and Jordonne Colley.

Commenting on the transaction, David Eliakim said financial technology's rapid evolution demanded specialist, cross-practice teams to successfully execute deals.

"The buy now pay later space has been subject to a lot of recent regulatory scrutiny."

"Being able to easily identify and resolve potential issues with an IPO requires a huge amount of collaborative input from specialists across the firm in areas such as financial regulation and capital markets."

"KWM's fintech strength comes being able to call on a deep cross-practice team to achieve a great outcome for its clients."

The Payright IPO comes in addition to KWM's role advising NZ fintech issuer Harmoney on its recent IPO and ASX listing, and reflects the firm's strong fintech capabilities and reputation.

2020 has been a strong year for equity capital markets, and KWM has been actively involved in many capital raisings for both issuers and lead managers. The KWM ECM team has worked on the largest placement and the largest entitlement offer in Australian corporate history.  KWM has also advised on a significant number of the $1 billion-plus secondary capital raisings in Australian corporate history.