Freehills and Clayton Utz are working on the second most-eagerly anticipated retail public offering of the year, with the private equity owners of outdoor goods and clothing store Kathmandu following the IPO exit route. Claytons will be advising Kathmandu while Freehills is advising the joint lead managers, Goldman Sachs JBWere and Macquarie.

Kathmandu’s owners, Goldman Sachs JBWere and Quadrant Private Equity, have stated they will end up retaining anywhere between nil and 20% of their holdings – the same tactic that Myer’s owners are employing. Kathmandu’s owners are likely to see whether investors want private equity owners to make a complete exit or maintain a position in the company.

The Kathmandu float aims to raise between A$278m and A$375m and will list on both the ASX and NZ stock exchange. This will be the first major IPO for New Zealand since the financial crisis wreaked havoc on its equity markets.

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