Stuart Byrne of Clayton Utz and David Eliakim of Mallesons are advising on the second largest float since last year's Myer IPO -  the A$1.3 bn IPO by construction group Valemus,  the newly rebranded Australian arm of Bilfinger Berger.

Eliakim said that the offer was likely to instil confidence in other companies considering exits via IPOs. "This IPO represents a significant milestone in the normalisation of primary equity capital markets following the GFC," he said.

The deal also continues a pattern of Clayton Utz involvement in major IPOs which now includes the A$340m Kathmandu IPO, the A$2.3 bn Myer IPO and the A$160m IPO of carsales.com.