Celebrating 150 years of impact

Philip Ascroft Philip Ascroft

Philip Ascroft

Partner
Auckland

Corporate & commercial

Philip specialises in corporate and securities law with a particular focus on equity capital markets, corporate governance, public mergers & acquisitions and listed company compliance.

Philip acts for issuers, arrangers and underwriters on all aspects of initial public offerings and capital raisings and has advised on many of New Zealand's most significant initial public offerings and other equity capital markets transactions. Philip has also worked on a range of public and private mergers & acquisitions.

Philip was recognised by NZ Lawyer as a Rising Star in 2022, Highly Regarded by IFLR1000 2024, and a Most Influential Lawyer in 2024. Philip is also an Associate Director of the New Zealand Shareholders’ Association.

Recent highlights

  • Advised Winton Land on its $350m initial public offering and listing on the NZX Main Board and ASX
  • Advised My Food Bag on its $342m initial public offering and listing on the NZX Main Board and ASX.
  • Advised Craigs Investment Partners and Goldman Sachs as joint lead managers of the $234m Napier Port IPO.
  • Assisted Heartland Group Holdings to bank $210 million (through a $105 million underwritten institutional placement and a $105 million underwritten accelerated non-renounceable entitlement offer) enabling it to complete its acquisition of Challenger Bank, now Heartland Bank Australia.
  • Advised the lead managers and underwriters on Auckland International Airport’s equity raise of $1.4 billion and Fletcher Building’s $700 million equity raise.
  • Advised Winton on the sale of shares in NZX and ASX listed Winton by Wanaka Partners to TC Akarua 2 Pty Limited for $37m, requiring preparation of a notice of meeting and independent adviser’s report for approval by shareholders under the Takeovers Code.
  • Advised property fund manager, Centuria Funds Management (NZ) Limited, on the establishment of two new property funds, Centuria NZ Agricultural Property Fund Limited and Centuria NZ Value-Add Fund No. 2 LP, and the associated wholesale offers to raise NZ$18 million and NZ$23.5 million, respectively.
  • Advised Lodestone Energy on its $55m capital raise to fund the continued development of solar farms in New Zealand.
  • Advised FTSE 100-listed specialist international distribution and services group Bunzl plc on its acquisitions of Cubro, DBM Medical, Universal Specialities, Toomac Holdings and Obex Medical.
  • Advised Embark Education on the $46m sale of its New Zealand business to funds managed by Anchorage Capital Partners and on its redomiciling via a court approved scheme of arrangement, requiring approvals, exemptions or non-objections from NZ RegCo, NZ Financial Markets Authority, High Court of New Zealand, Takeovers Panel, ASX and the Australian Securities and Investments Commission.

Affiliations

  • Institute of Finance Professionals New Zealand (Cert).

Philip's insights

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Two recognised as most influential lawyers

We are delighted that Philip Ascroft and Luke Ford have been recognised in NZ Lawyer’s Most Influential Lawyers 2024 report.

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Philip Ascroft appointed to NZ Shareholders’ Association board

Chapman Tripp Senior Associate, Philip Ascroft has been appointed as an Associate Director to the board of the NZ Shareholders’ Association (NZSA).

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Phillip Ascroft

Philip Ascroft recognised for exceptional young talent

Philip Ascroft, a highly respected senior lawyer within our market-leading equity capital markets (ECM) practice, has been recognised by NZ Lawyer as a Rising Star.

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Winton lands $350m with assistance from Chapman Tripp

We assisted residential land developer Winton Land Limited to raise $350m through an IPO and to list on both the NZX Main Board and the ASX.

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A humming start to 2021 for NZ’s equity capital markets

We have observed a busy Q1, advising on all major ($5m+) equity capital market transactions on the NZX.

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My Food Bag plates up with legal experts at Chapman Tripp

Today marks a significant milestone for New Zealand well-known brand, My Food Bag, as it lists on the NZX Main Board and ASX following a successful initial public offering.

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Over $2.35b capital raised with equity capital markets experts

Our equity capital markets team has advised clients on capital raisings totalling over $2.35b since NZX Regulation released its COVID-19 relief package.

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Clients’ choice for capital raisings

Our equity capital markets team continues to be in hot demand, acting on more recent capital raisings than any other law firm in NZ..

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covid 19

Six equity capital raisings in response to COVID‑19, to raise almost $2b

We have been trusted counsel on more capital raisings in response to COVID-19 than any other law firm in NZ.

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Kathmandu's transformational acquisition of Rip Curl

Assisting NZX and ASX-listed Kathmandu Holdings as lead legal advisors on the NZ$368m acquisition of Rip Curl and associated debt and equity funding arrangements.

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Chapman Tripp advise on Napier Port IPO

We advised on the NZX listing and initial public offering of shares in Napier Port, the largest IPO in NZ since 2016.

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Nine new June appointments at Chapman Tripp

Chapman Tripp is pleased to announce the promotion of seven new senior associates, and the recognition of two senior legal advisors.

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Chapman Tripp trumpets sale of Tip Top

Advising Fonterra on the sale of its iconic ice-cream brand Tip Top to global ice cream manufacturer Froneri for $380m.

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Others in the team

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