The initial public offering on the ASX and NZX of outdoor clothing retailer Kathmandu promises to provide a bumper payday for the law firms advising on the deal. According to the offer document, issue costs are estimated around A$15m – but that could easily increase depending on the final settlement price.

Kathmandu’s Australian legal advisers, Clayton Utz, and its New Zealand advisers, Chapman Tripp, are in line to receive A$440,000 and A$285,000 (NZ$350,000) respectively.

Freehills is advising the joint lead managers Macquarie Group and Goldman Sachs JBWere, who are expected to share a fee of around 3.25% of the total raised from the listing. ALB was unable to ascertain what proportion of those fees – a sizeable A$12.9m at the midpoint – would make its way into the Freehills’ bank account. 

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