
TY  - JOUR
A1  - Williams, R.C. 
T1  - THE CREATION AND FLOTATION OF NOVUS PETROLEUM LTD
JF  - The APPEA Journal
JO  - The APPEA Journal
Y1  - 1996
VL  - 36
IS  - 1
SP  - 706
EP  - 715
KW  - 
UR  - https://doi.org/10.1071/AJ95050 
N2  - Novus Petroleum Ltd listed on the Australian Stock Exchange on 24 May 1995 having raised $157.5 million of equity. It was the largest initial public offering (IPO) of an oil company ever undertaken in Australia, and the third largest equity-raising on the Australian market during financial year 1994-5.The creation of Novus involved the creation of a team of professional advisers comprising ANZ McCaughan (broker), Indosuez Australia (financial adviser), Ernst and Young (accounting and taxation adviser), Phillips Fox (legal adviser) and Fern Consultants (technical adviser). During the period from mid 1994 to May 1995, the team identified and procured a portfolio of producing and exploration assets (including shares in over 30 oil and gas fields); negotiated sale and purchase, underwriting, loan and other necessary agreements; wrote and issued a prospectus and performed the necessary due diligence and other processes involved with a public equity offering; and marketed the stock in the new company globally.The success of the IPO is attributed to having a very clear business focus and strategy, a diverse portfolio of quality assets, a strong and experienced management team, good earnings arithmetic and a strong balance sheet. Delivery of the success is attributed to the commitment and enthusiasm of the professional team involved with the float process. 
ER  -

