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Capital Raising With an Innovative Edge

Published on 06 Feb 2008 | Took place at RACV Club, Melbourne, VIC

The increased maturity and sophistication of Australia’s capital markets coupled with the confines of Australia’s debt/equity provisions has necessitated innovative solutions to capital raisings.

This session provided insights into the key financial and commercial drivers for large scale capital raisings from both the issuer’s and financier’s perspectives.

It explained some of the current techniques employed in innovative capital raisings to return the highest after tax returns to stakeholders and then focussed on the prevailing tax issues confronting these techniques.

In particular, the session stepped through the following:
- navigating through the debt/equity provisions – current issues in capital categorisation
- the evolution of the redeemable preference share issue and common features
- avoiding pitfalls on unwind
- some recent examples.

Individual sessions

Innovative capital raisings

Author(s):  Paul ABBEY

This presentation covers the tax issues confronting the architects of capital raisings and some of the latest techniques used in returning the highest after tax returns to participants, including:

  • current issues in capital categorisation - debt/equity dilemmas - 974-80 scuffles
  • interaction with other jurisdictions
  • avoiding pitfalls on unwind
  • some recent examples - corporate hybrids - stapled groups - listed property trusts.
This presentation contains minor updates made for the presentation given on 6 February 2008 for "Capital Raising With an Innovative Edge" seminar in Melbourne.
Materials from this session: