The Legal 500 > Europe, Middle East & Africa > Italy > Capital markets: Equity

In 2019, BonelliErede was integrated with Lombardi e Associati, bringing capital markets expert Federico Vermicelli to the firm. Clients benefit from the practice's longstanding relationships with Consob - which regulates the Italian financial markets - as well as the Italian Stock Exchange. Typical work covers IPOs, capital increases, public tender offers and takeover bids. Vittoria Giustiniani advises on access to capital markets through IPOs and capital increases, as well as public offerings and Gianfranco Veneziano leads the firm's development in North Africa. Barbara Napolitano is an expert in IPOs and secondary offers, and managing associate Federica Munno has luxury goods, energy and infrastructure sector experience. London-based team head Massimiliano Danusso has broad capital markets experience.

Chiomenti is well known for playing leading roles during the privatisation of state-owned companies. The practice also stands out for its involvement in highly significant tender and exchange offers and takeover bids. Clients particularly appreciate the firm's innovative corporate, contractual and fiscal structures in relation to ECM matters. Manfredi Vianini Tolomei and Enrico Giordano's practices include public offerings and stock listings. Federico Amoroso acts on IPOs, share capital increases, institutional placements and treasury share buy-back programmes; and counsel Gianfilippo Pezzulo is an expert in IPOs, public purchase and exchange offers, capital increases and private placements.

Gatti Pavesi Bianchi has a longstanding history of involvement in important Italian takeover bids and listings. In recent years, the practice has been actively involved in the creation and listing of special purchase acquisition companies (SPACs). Clients also appreciate the team's integrated service, with the ECM lawyers regularly working alongside their corporate law colleagues. Anton Carlo Frau advises on public offerings and IPOs, Stefano Valerio is a SPAC sector expert and Rossella Pappagallo has experience of advising on securities transactions. Vanessa Sobrero and senior associate Maximiliano Papini are also experienced in ECM matters.

Gianni, Origoni, Grippo, Cappelli & Partners is highly rated for its assistance to issuers, selling shareholders and underwriters, which are involved in initial and secondary public offerings of equity securities. The team also advises on rights issues and listing procedures on Italian stock exchanges, as well as liability management transactions. In addition, it is highly specialised in small and medium enterprises' capital strengthening operations through IPOs on AIM Italia. Andrea Marani focuses on real estate-related matters and Paolo Bordi is an ECM specialist. Mariasole Conticelli's practice includes IPOs, rights issues, corporate bonds and public tender offers, while capital markets expert Antonio Segni joined from Lombardi Segni & Associati.

Latham & Watkins LLP regularly advises on high-profile transactions for both issuers and underwriters. The practice stands out for its ability to assist clients with both Italian and US law. The Italian team is led by Antonio Coletti, who recently advised on major Italian capital markets transactions (including IPOs), and includes five Italy-qualified lawyers. The US team includes Jeff Lawlis and Ryan Benedict, who is based in the firm's Milan and London offices. Lawlis has significant experience of public and private cross-border deals, while Benedict has broad capital markets expertise. Counsel Isabella Porchia is experienced in ECM offerings.

Spanning all equity products, White & Case (Europe) LLP works on complex and large transactions. Offering a one-stop-shop approach covering Italian, English and US legal advice, typical work includes IPOs, rights issues, secondary offerings, and equity-linked products, including exchangeable and convertible bonds. Ferigo Foscari  is a leading ECM  lawyer, and Michael Immordino, who divides his time between London and Milan, advises investment banks and issuers on public and private equity offerings. Piero de Mattia is an Italian and US-qualified lawyer with considerable ECM experience, and associate Robert Becker frequently advises on IPOs.

DLA Piper has longstanding relationships with financial institutions and issuers, which it regularly assists with equity transactions such as IPOs (including SPAC IPOs), rights issues, tender offers, secondary offerings, and convertible, equity-linked and hybrid instruments. The practice also distinguishes itself through its focus on cross-border transactions. Additionally, it provides ongoing legal and regulatory advice to listed companies and intermediaries in Italy and abroad, particularly regarding market abuse legislation. Francesco Maria Aleandri  has extensive ECM sector experience.

Legance - Avvocati Associati advises on IPOs, and listings and offerings in regulated markets and multilateral trading facilities. The practice also assists with secondary market and rights offerings, public tender offers, employee stock offerings, and corporate finance transactions involving equities and securities. It is particularly active in the MTA and AIM market listing process. Giorgio Vanzanelli regularly advises on IPO and other equity matters; and senior counsel Marzio Ciani handles the international and Italian side of ECM deals.

Nctm Studio Legale assists issuers, selling shareholders and intermediaries with IPOs, private placements and listing procedures. It particularly stands out for its advice on AIM Italia IPO deals. Lukas Plattner handles IPOs, corporate and convertible bond issuances, MTA listings, accelerated book building, issuance of warrants and capital increases. Alessandra Stabilini's practice includes advising issuers on corporate governance-related matters, tender offers and rights issues. Recently promoted salary partner Andrea Iovieno has been involved in several IPOs on AIM Italia and MTA.

Shearman & Sterling LLP's combined Italian, US and UK team is well known for advising on significant, high-profile mandates, as well as for addressing, from an Italian perspective, issues that arise in the international markets. Its ECM practice has particular strength in acting as issuer or underwriters’ counsel. Italy and New York-qualified Tobia Croff is highly rated for IPOs and rights issues. Counsel Emanuele Trucco advises on IPOs and rights offerings.

Dentons advises on all legal aspects concerning the issuance, placement and listing of financial instruments in Italy and abroad. Other areas of strength are IPOs and takeover bids, including liaising with the relevant authorities. The team's assistance also covers corporate governance matters, as well as the capital markets aspects of restructuring transactions and cross-listing procedures. Capital markets practice head Antonella Brambilla is 'a great professional with extensive experience'.

Giovannelli e Associati Studio Legale acts for corporate issuers and underwriters on a range of international and domestic ECM transactions. Clients particularly appreciate the team's advice on related regulatory considerations. Andrea Bartolucci assists with first-time listings and IPOs, rights issues, block trades and convertible securities offerings. Fabrizio Scaparro recently led advice to Aquafil, which produces polyamide 6, on its Milan Stock Exchange listing.

Pedersoli Studio Legale's Turin-based ECM practice advises listed clients, institutional investors, shareholders and banks on structuring, executing and launching capital raising transactions. It also stands out for its regulatory and banking and financial sector expertise. Marcello Magro has broad experience in IPOs and other capital markets offerings, and Carlo Re is particularly focused on the automotive, publishing and financial services sectors. Alessandro Marena  is also noted.

Simmons & Simmons advises on the placement and listing of financial instruments for growing companies (including SMEs), particularly on AIM Italia and other European multilateral trading facilities. Recent work includes public offerings and private placements, as well as investment opportunities for domestic and international institutional investors, mandatory and voluntary takeover bids, capital increases and the issue of equity securities. Augusto Santoro is regularly instructed by investment banks and issuers on complex deals.