Suncorp Metway Ltd’s ASX listing of Suncorp Group Ltd

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Corrs acted for Suncorp Metway Ltd (SML) in connection with the establishment and listing on the ASX of a new non-operating holding company, Suncorp Group Ltd (SGL).

The transaction had a number of unique features in connection with the listing on ASX and it involved close liaison with the ASX to implement the transaction in a tight timeframe.

The new structure assists SGL with regard to its Australian prudential requirements and assists with organising its business into three distinct divisions – banking, general insurance and life insurance – under a listed non-operating holding company.