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Equity capital markets – mid-large cap in London

Allen & Overy LLP

Allen & Overy LLP has an outstanding track record in high-profile and complex IPOs and other equity fundraisings seen in the UK and EMEA. The London team has a mix of English and US securities law expertise, putting it on a strong footing to handle transactions of the utmost complexity and significance for corporate issuers, banks and financial advisers. The first-rate group includes US corporate finance partner Adam Wells and James Roe, who were among the advisers to the global coordinators and joint bookrunners, together with other syndicate members, on the IPO and listing on the Warsaw Stock Exchange of Allegro.eu in 2020; at the time of listing, this was the largest-ever IPO in Poland. In a more recent highlight, Michael Bloch and others acted for the underwriters (led by the joint global coordinators) on the offer of Global Depository Receipts by China Yangtze Power Co., Ltd and admission to trading on the Shanghai London Stock Connect Segment of the London Stock Exchange. David Broadley is the firm’s head of UK equity capital markets; Jeff Hendrickson and senior associate Eimear Coady are also recommended, as is recently promoted counsel Harsha Kumar.

Practice head(s):

David Broadley; Adam Wells

Other key lawyers:

James Roe; Jeff Hendrickson; Michael Bloch; Eimear Coady

Testimonials

They have the resources to deploy on large-scale equity fundraisings.’

James Roe acts as a “true adviser” – going above and beyond remit where required to enable the success of the transaction (in particular, being willing to lean in where other advisers are weak to hold their hand or keep them in check).’

Key clients

Moonpig

Exponent Private Equity

JDE Peet’s

JAB

Ninety One (formerly Investec Asset Management)

TP ICAP

SIG

Network International

Pennon Group

Premier Oil

The Gym Group

Hiscox

WH Smith

Euronext

Rolls Royce

TUI

TT Electronics

Sumo Group

Saudi British Bank (NatWest and Banco Santander S.A.)

Work highlights

  • Advised Exponent and its portfolio company, Moonpig on the demerger of Moonpig from another Exponent portfolio company, Photobox Group, and the subsequent £1bn IPO of Moonpig.
  • Advised the global coordinators and joint bookrunners on the IPO and listing of Allegro.eu, Poland’s number one e-commerce platform. This was the largest-ever IPO in Poland and makes Allegro the country’s largest listed company.
  • Advised on the €2.25bn IPO of JDE Peet’s on Euronext Amsterdam. The IPO was the largest consumer and retail IPO in Europe since 2006 and the largest IPO globally since the Covid-19 pandemic began (at the time of listing). This was the first major IPO in Europe to launch following Covid-19.

Clifford Chance LLP

Clifford Chance LLP's standing in the market is reflected by the fact that it features in many of the largest and most complex IPOs and fundraisings in Europe. It is a first port of call for many issuers, sponsors and underwriters. Recent highlights included Simon Thomas advising a syndicate of banks (including Citigroup, Goldman Sachs and JP Morgan as joint global coordinators) on InPost's admission to listing and trading on Euronext Amsterdam; at the time of listing, this was the largest ever European tech IPO, the largest ever CEE IPO and the largest cross-border listing for an EMEA company in a decade. In another notable mandate, Christopher Roe led advice to a syndicate of banks on the €854m IPO and Euronext Amsterdam listing of CTP; this was the largest real estate IPO in Europe since 2014. Iain Hunter and US securities law expert John Connolly are other key partners in the team, which is led by Adrian Cartwright.

Practice head(s):

Adrian Cartwright

Other key lawyers:

Simon Thomas; Iain Hunter; Christopher Roe; John Connolly

Testimonials

There are few firms in London who have the depth of bench of serious, highly credible partner expertise that CC has. Needless to say, they back this up with a highly credible, efficient and proactive bunch of associates who get the job done.’

Strength in depth – always confident that there are armies of equally talented and committed lawyers to draw on to get stuff done on time. Highly competent at associate level but partners readily available and prepared to “get their hands dirty“.’

Adrian Cartwright has such tremendous experience, including in many emerging markets, that nothing phases him and he remains calm and encouraging when facing seemingly intractable or sensitive problems. His manner remains assured and confidence inspiring in all situations and gracious and cooperative with other law firms. Simon Thomas – consummate professional. Arguably one of the top 3 UK capital markets partners in London. John Connolly – calm & thoughtful. Another reassuring presence – no ego.’

Key clients

THG Holdings plc

Allegro

Clayton, Dubilier & Rice

Goldman Sachs

Informa PLC

Energias de Portugal (EDP)

Mondelēz International

easyJet

HSBC

Morgan Stanley

JP Morgan

Citigroup

SDIC Power Holdings Co., Ltd.

UBS AG London Branch

Huatai Financial Holdings

Credit Suisse

KKR Capital Markets

Barclays

BofA Securities

Work highlights

  • Acted for THG Holdings plc on The Hut Group’s IPO. This was a landmark for the London tech sector, being the largest London e-commerce IPO to date and the largest UK IPO since 2015.
  • Advised Allegro.eu on its offering of 10.6 Billion PLN ($2.7bn) (including full exercise of the over-allotment option) and listing on the Warsaw Stock Exchange.
  • Advised Clayton, Dubilier & Rice, the US-based private investment firm, on its investment in LSE-listed SIG plc, a £2bn revenue distributor of specialist construction products across Europe.

Latham & Watkins

Latham & Watkins stands out in complex cross-border equity capital markets transactions, with its London team active in big-ticket listings and other equity fundraises in Europe and further afield internationally. James Inness and Chris Horton co-head the practice, which is notably strong in the technology sector. In 2020, Horton, Anna Ngo and Ryan Benedict acted for the underwriters on a $2.85bn rights issuance by Aveva Group Plc to fund its acquisition of OSIsoft for $5bn. The firm also has a strong flow of European tech IPOs in the pipeline. Elsewhere, beyond the tech space, the firm has acted on a number of strategically significant fund raisings during the Covid-19 pandemic, including accelerated fund raisings by Dechra Pharmaceuticals Plc and Polypipe Group Plc. Josh Kiernan has particular expertise in overseas listings of Israeli issuers. Olof Clausson has retired.

Practice head(s):

James Inness; Chris Horton

Other key lawyers:

Ryan Benedict; Josh Kiernan; Anna Ngo

Testimonials

Top-tier team, active across the spectrum of equity capital markets both in the UK and internationally.’

Deep bench subject matter knowledge. Consistent delivery of high quality legal advice.’

Stand out partner: James Inness, cool under pressure and strong negotiator.’

James Inness and Anna Ngo are a great team. Creative in solutions and pragmatic in approach.’

Key clients

Abcam plc

Bank of America Merrill Lynch

Citi Group

Diversified Gas and Oil plc

Farfetch

Goldman Sachs

J.P. Morgan

Jefferies

Numis

Morgan Stanley

TI Fluid Systems

UBS

YouGov

Work highlights

  • Advised the joint global coordinators, joint bookrunners and underwriters on Deliveroo Holding plc’s initial public offering on the London Stock Exchange.
  • Advised the underwriters on the Initial Public Offering of Global Depositary Receipts listed on the London Stock Exchange and the Astana International Exchange by Kaspi.kz.
  • Advised the joint global coordinators and joint bookrunners on a £152m cash box placing by Aston Martin Lagonda Global Holdings plc, the iconic luxury British sports car manufacturer.

Linklaters LLP

Linklaters LLP is well-known as a powerhouse in the equity capital markets arena as a leading name in big-ticket listings and other high-profile transactions. Its recent work included James Wootton, Mike Bienenfeld, senior US associate Cole Smith and managing associate Avi Cohen acting for Alphawave IP Plc on its £3.1m IPO and London Stock Exchange listing; this matter represented the largest admission of a North American company in London Stock Exchange history and is one of the largest semiconductor IPOs in the world to date, The firm also notably acted on the listings of Trustpilot, Moonpig and Dr Martens. John Lane and Jason Manketo jointly lead the practice. Tom Thorne is another key individual.

Practice head(s):

John Lane; Jason Manketo

Other key lawyers:

James Wootton; Mike Bienenfeld; Cole Smith; Avi Cohen; Tom Thorne

White & Case LLP

White & Case LLP has a stand out reputation across the myriad of complex equity capital markets transactions seen in London, as well as those covering other markets across EMEA. The EMEA capital markets practice is led by US-qualified partner Laura Sizemore, who is experienced in US-registered public offerings, Rule 144A offerings, Regulation S offerings and private placements. Other key figures include Inigo Esteve and Darina Kogan-Bellamy, who recently advised Citigroup Global Markets Limited, JP Morgan Securities Plc, Merrill Lynch International, Morgan Stanley and VTB Capital Plc (as joint global coordinators and joint bookrunners) on the IPO of Fix Price Group Ltd on the London Stock Exchange and the Moscow Exchange; at the time of listing, this was the second largest IPO on the London Stock Exchange in 2021 and the largest LSE IPO of a Russian company since 2012. In 2020, Esteve and Kogan-Bellamy acted for PJSC Aeroflot on a $1bn equity fundraise. Jonathan Parry is another key individual.

Practice head(s):

Laura Sizemore; Jonathan Parry; Inigo Esteve; Darina Kogan-Bellamy

Other key lawyers:

Bob Lehner; Andrew Scott

Testimonials

‘White & Case’s Equity Capital Markets team is a go-to team for city ECM practitioners. With a first-class team, good bench of associates and excellent partners their work for banks and issuers alike is always excellent.’

‘Jon Parry and Inigo Esteve are top partners that always give their clients first-class service. They stand out for their commerciality and their ability to produce tailored but efficient solutions for their clients.’

Key clients

Kaspi.kz

Energean Oil & Gas

J.P. Morgan

Barclays

Jefferies

Goldman Sachs

Morgan Stanley

HSBC

Qatar Investment Authority

Rothschild

Work highlights

  • Advised Joint Stock Company Kaspi.kz (Kaspi.kz), the largest payments, marketplace and fintech ecosystem in Kazakhstan, on its $1bn IPO of global depositary receipts on the London Stock Exchange.
  • Acted for Jefferies and J.P. Morgan as joint bookrunners and joint global coordinators, and Barclays and Banco Santander S.A as joint bookrunners, on the £204m rights issuance by Mitie Group Plc.
  • Advised Morgan Stanley & Co International plc, as sole global co-ordinator and sole bookrunner, on Mail.ru’s $243m equity fundraise and the simultaneous offering of $400m in aggregate principal amount senior unsecured convertible bonds due 2025.

Ashurst

Ashurst's equity capital markets practice attracts work involving a number of key sectors including the mining, oil and gas, healthcare, technology, real estate and real estate fund industries. Reflective of the firm's strong pedigree, it advises a wide variety of stakeholders on their most complex mandates, including issuers, shareholders, bulge-bracket investment banks and brokerage firms. In 2020, Simon BullockStuart Rubin and others acted for Jefferies International Limited, Carnegie Investment Bank and DNB Markets as managers on an SEK300m equity fundraising by Swedish research-based pharmaceuticals company Camurus. In addition, Bullock and others advised National Express Group Plc on its £235m equity capital raising. The firm has also seen a steady flow of IPO work. Jeffrey Johnson, who made partner in May 2021, has US securities law expertise, as do Rubin and Jennifer Schneck. Nicholas Holmes is another key figure in the team.

Practice head(s):

Nicholas Holmes; Jennifer Schneck; Stuart Rubin

Other key lawyers:

Simon Bullock; Jeffrey Johnson; Louise Chan

Testimonials

We always have very good experiences with Ashurst. They deliver real partner attention and have excellent, attentive and efficient associates.’

Nicholas Holmes is among my first calls when I have a difficult situation. He is a thought leader in the sector and understands the issues and the latest market practice.’

We mainly use Nicholas Holmes. Nicholas is an excellent lawyer and can be relied upon to give a robust view on tricky legal issues. He is always available for calls and visible on transactions.’

Key clients

Goldman Sachs

Morgan Stanley

Softcat

Jefferies

Barclays

Bank of America Merrill Lynch

Numis

EnQuest

Citi

Credit Suisse

Chesnara

Tritax EuroBox

Time Out Group

J.P. Morgan

Interserve

Peel Hunt

Deutsche Bank

Liberum

AVEVA

Lamprell

National Express Group

Stifel

Work highlights

  • Advised Numis on the £646.6m IPO of Bytes Technology Group plc, the demerger of the Bytes group from Altron and the company’s dual listing on the London and Johannesburg Stock Exchanges.
  • Acted as English and US counsel to AB Ignitis grupė on its £1.75bn IPO and admission to the main trading list of Nasdaq Vilnius and to the main market of the LSE. The IPO was the largest IPO in the Baltic region and one of the largest IPOs in London in 2020.
  • Advising AVEVA Group plc on its $3.5bn rights issuance, which is being undertaken in order to raise part of the cash consideration needed by AVEVA to fund the $5bn acquisition of OSIsoft, LLC.

Cleary Gottlieb Steen & Hamilton

Cleary Gottlieb Steen & Hamilton is highlighted for its depth of US securities law expertise and high volume of work for issuers and underwriters. The firm is prominent in international capital markets transactions across a large number of jurisdictions, particularly those in the Nordic region, as well as Russia, Turkey and Israel. Pierre-Marie Boury is particularly knowledgeable about the Nordic and Turkish markets, while David Gottlieb is prominent in transactions involving Russia and emerging markets. With a multidisciplinary approach, the firm is well-placed to advise on the full spectrum of matters. In 2020, Gottlieb and associate Chrishan Raja were among the advisers to PJSC TransContainer on the termination of its GDR programme with The Bank of New York Mellon and subsequent delisting of the GDRs from the London Stock Exchange and the Moscow Exchange. Sebastian Sperber and counsel Sarah Lewis also notably acted for the underwriters on the SEK1.15bn rights offering of Scandic Hotels.

Other key lawyers:

Sebastian Sperber; David Gottlieb; Pierre-Marie Boury; Sarah Lewis; Aseet Dalvi; Chrishan Raja

Key clients

Sovcomflot

PJSC Transcontainer

Embracer Group

Scandic Hotels Group AB

Diaverum AB

Evolution Gaming Group AB

Ryanair Holdings plc

GlaxoSmithKline plc

Burning Rock Biotech Limited

Work highlights

  • Acted as international counsel to Sovcomflot on its approximately $550m initial public offering of ordinary shares and listing on Level 1 of the Moscow Exchange.
  • Acted for the underwriters on the private placement of Class B shares in Embracer Group AB with a total value of SEK5.78bn.
  • Advised Ryanair Holdings Plc on the undocumented placing of new ordinary shares to institutional investors, raising gross proceeds of approximately €400m.

Davis Polk & Wardwell LLP

Davis Polk & Wardwell LLP, which is noted for its deep bench of English and US-qualified lawyers in London, is a top choice for large standard and premium segment LSE listings and other equity fundraises. It also excels in equity offerings involving other exchanges across Europe, including those in Germany, the Netherlands, Sweden and Denmark. Simon Witty leads the team, and has expertise across the entire ambit of public and private securities offerings, as well as M&A. The firm's recent work included advising the joint global coordinators and joint bookrunners on the £3.1bn IPO and London Stock Exchange listing of Alphawave IP Group Plc. Reuven Young, Will PearceDan HirschovitsLeo Borchardt and counsel Connie Milonakis are all recommended.

Practice head(s):

Simon Witty

Other key lawyers:

Reuven Young; Will Pearce; Dan Hirschovits; Leo Borchardt; Connie Milonakis

Key clients

Morgan Stanley

J.P. Morgan

UBS

Goldman Sachs

Rolls-Royce Holdings plc

Ocado Group plc

Lazard

Numis Securities

Centogene N.V.

Royalty Pharma plc

Freeline Therapeutics Holdings plc

CureVac N.V.

HusCompagniet A/S

Max Stock Ltd.

Pandora A/S

NKT A/S

ContourGlobal

A.P. Møller – Mærsk A/S

EQT

Mereo BioPharma Group plc

Work highlights

  • Advised the joint global coordinators, joint bookrunners, joint underwriters, joint sponsors and joint financial advisers and JSE sponsor in connection with a fully committed and underwritten 24 for 1 rights issuance by Hammerson plc of new ordinary shares to raise gross proceeds of £552m and a sale by Hammerson of substantially all of its 50% interest in VIA Outlets.
  • Advised Rolls-Royce Holdings plc in connection with its 10 for 3 rights issuance of new ordinary shares. The offering raised gross proceeds of £2bn.
  • Advised Royalty Pharma plc and the selling shareholders on Royalty Pharma’s $2.5bn initial public offering of Class A ordinary shares, which included an upsize of Class A ordinary shares at the time of pricing and reflects the full exercise of the underwriters’ over-allotment option.

Herbert Smith Freehills LLP

Reflective of Herbert Smith Freehills LLP's credentials in the equity capital markets arena, it acts for 130 FTSE-listed companies and also has strong relationships with a number of bulge-bracket investment banks, including JP Morgan, Morgan Stanley, Credit Suisse and UBS. The firm's first-rate reputation sees it regularly win important roles in high-profile transactions. UK equity capital markets head Mike FlockhartDinesh Banani, counsel Dennis Hermreck and associate Thomas Vaughan were among the advisers to Saga Plc on its £150.3m equity raise, by way of a firm placing and placing and open offer. Banani and Hermreck were also part of the cross-practice group that acted for Hipgnosis Songs Fund Limited RSA Plc on its £605m placing and acquisition of a US-based music business. US securities head Tom O’Neill has vast knowledge of Rule 144A and SEC-registered offerings, as well as SEC compliance and corporate governance issues. Michael Jacobs joined from Allen & Overy LLP in 2020.

Practice head(s):

Mike Flockhart; Tom O’Neill

Other key lawyers:

James Palmer; Dinesh Banani; Michael Jacobs; Sarah Ries-Coward; Thomas Vaughan; Dennis Hermreck

Testimonials

Strong team in UK and international ECM across rights issuances and follow-ons, including on very complicated cross-border transactions.’

Key clients

Bank of America

JP Morgan

Morgan Stanley

Lazard

Rothchild and co

UBS

Barclays

Citi

Credit Suisse

Deutsche Bank

HSBC

Moelis

STJ Advisors

Tryg A/S

Hammerson plc

Saga plc

EverArc Holdings Limited

Hipgnosis Songs Fund

Shaftesbury

Hiscox

WHSmith plc

Intu Properties plc

Jet2 plc

The Unite Group

The Weir Group

Harvester Holdings Limited

Work highlights

  • Advised Tryg A/S, a Scandinavian insurance company, on its DKK39bn rights issuance offering to fund its share of the acquisition of RSA Insurance Group plc.
  • Advised Hammerson on a complex transaction involving its £552m rights issuance and simultaneous disposal of substantially all of its 50% interest in VIA Outlets, a premium shopping outlets joint venture, to a mutual fund managed by APG Asset Management for £277m.
  • Advised a consortium of banks on the proposed rescue £1.3bn equity issuance of Intu Properties plc, a major owner, manager and developer of shopping centres.

Skadden, Arps, Slate, Meagher & Flom (UK) LLP

At Skadden, Arps, Slate, Meagher & Flom (UK) LLP, the London team is part of a larger international group that acts for issuers and underwriters on equity offerings worldwide. It works particularly closely with practitioners in the US on European listings and secondary fundraises, as well as NYSE and NASDAQ public offerings. The firm has been notably active in SPAC-related mandates; recent highlights included Pranav Trivedi and counsel Maria Protopapa acting for Levere Holdings Corp on its $250m NASDAQ IPO. In addition, counsel Riley Graebner led advice to RMG Acquisition Corp. II on its NASDAQ IPO for $345m. Beyond SPAC work, practice head Danny Tricot, Graebner and others assisted Wolt Enterprises (a Finnish start-up specialising in home food deliveries) with its €350m primary and €105m secondary round of financing.

Practice head(s):

Danny Tricot

Other key lawyers:

Pranav Trivedi; James McDonald; Riley Graebner; Maria Protopapa; Adam Howard

Testimonials

The team are responsive, commercially minded and have a good understanding of our industry sector. They take time to understand business priorities and advise with this in mind.’

Danny Tricot is our “go-to” contact for group-level corporate and structuring advice. He has a strong understanding of our business and key stakeholders and takes time to understand commercial aims/considerations at the outset of any transaction. Transactions are always managed effectively and efficiently, with excellent communication throughout.’

Key clients

Citigroup Global Markets Inc

Fix Price

Compute Health Acquisition Corp

Wolt Enterprise

RMG Acquisition Corp. II

Zelon

Atlantica Sustainable Infrastructure plc

Credit Suisse BofA Securities, Inc

LetterOne

Goldman Sachs International

Borr Drilling Limited

Sistema PJSFC

MJ Gleeson plc

Qiwi plc

Globalworth Real Estate Investments Ltd

Alussa Energy

Kismet Acquisition One

Work highlights

  • Advising Fix Price on its $2bn IPO with a listing of global depositary receipts on the London Stock Exchange and the Moscow Stock Exchange.
  • Advising Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and Cantor Fitzgerald & Co. as underwriters on the $525m IPO of SVF Investment Corp.
  • Acted for special purpose acquisition company Compute Health Acquisition Corp on its $862.5m IPO.

Slaughter and May

Slaughter and May , which is well-known for its issuer-side focus, is a first port of call among many FTSE 100 and FTSE 250 companies for advice on complex and business-critical fundraising requirements. Led by Rebecca Cousin, the department handles London Stock Exchange IPOs, rights issuances, placings and issuances of convertible/exchangeable securities, among other matters. In 2020, highlights included advising Ocado Group Plc on a concurrent three-legged £1bn capital raise and acting for SEGRO Plc on a £680m placing. Richard Smith and David Johnson are among other active practitioners. In recent developments, former practice head Nilufer von Bismarck joined Legal & General as a non-executive director, and Susannah Macknay moved to Gilbert + Tobin in 2020.

Practice head(s):

Rebecca Cousin

Other key lawyers:

Richard Smith; David Johnson; John Papanichola

Testimonials

A class act – our go-to for our most important deals.’

David Johnson – simply the best there is.’

The quality from Slaughter and May is second to none and consistently so. Legal advice is given through a commercial lens with a large dose of realism, as well as recommendations when required – not just sitting on the fence.’

In our opinion, Slaughter and May has an extremely experienced ECM team, often at the leading edge of market practice and developments.’

Key clients

Ocado

Whitbread

De La Rue

Countrywide

Premier Oil

SEGRO

Costain

Reckitt Benckiser

Workspace

Aquis

Diageo

GlaxoSmithKline

PrimaryBid

ASOS

IAG

The Restaurant Group

Rolls-Royce

Work highlights

  • Advised International Consolidated Airlines Group, S.A. on its underwritten equity raise to raise gross proceeds of approximately €2.75bn.
  • Advised Rolls-Royce Holdings plc on a recapitalisation package designed to improve liquidity headroom, reduce balance sheet leverage and help the company to navigate the challenging economic circumstances caused by the Covid-19 pandemic.
  • Advised Whitbread PLC on its rights issuance to raise gross proceeds of approximately £1bn.

Baker McKenzie

Baker McKenzie's team has dual English and US law expertise, making it well-placed to handle high-profile and groundbreaking equity capital markets transactions. Among the firm's work in other industries, it has notably carved out an excellent reputation in the healthcare/medtech sector and is prominent in significant equity offerings in this space across the EMEA region. In 2020, Megan Schellinger worked with members of the Brussels office to advise Mithra Pharmaceuticals on a €65m capital raise. In the financial services space, Schellinger is also advising the Egyptian government and Banque du Caire on the privatisation of the bank. Elsewhere, the firm has also grown its presence in the UK market and is increasingly seen as a go-to for founder-led and technology companies; the arrival of Adam Eastell from Slaughter and May in 2020 strengthened the firm's capabilities in this area. In addition, Nick Rainsford (who recently joined from Ashurst) and Nick Bryans are also active in the UK market. Beyond its work for issuers, the firm's level of underwriter-side engagements is also increasing. Adam Farlow heads up the practice, and George Marshall made partner.

Practice head(s):

Adam Farlow

Other key lawyers:

Megan Schellinger; James Thompson; George Marshall; Adam Eastell; Nick Rainsford; Nick Bryans

Testimonials

BM team offers a unique high quality service for ECM transactions notably IPOs thanks to a strong track record for EMEA transactions. The practice is highly recognized for IPOs within the Middle East.

Adam Farlow and George Marshall have been instrumental in the IPO process we worked with thanks to their constant availability, reactivity and high quality legal advice.’

In a very low risk taking way, the team is able to be find the right solution for the company. They always deliver upon promises and are available at any time.

The leading partner was always able to find the right internal expert for the subject in a very efficient way.

Team covers all required aspects for a transaction.’

James Thompson is great value for money, experienced, available, pragmatic.’

Key clients

J.P. Morgan

Credit Suisse Securities (Europe) Ltd.

Citibank, N.A./ Citigroup Global Markets Limited

Morgan Stanley

BinDawood Holding Company

China Pacific Insurance (Group) Co.

Biffa plc

Banque du Caire

Schmolz + Bickenbach AG

Sequana Medical NV

MdXHealth

Mithra Pharmaceuticals

Natixis

Citigroup

Carnegie

Barclays Bank PLC

Work highlights

  • Advised Saudi Arabian supermarket giant BinDawood Holding Company on its $585m IPO on the Saudi Stock Exchange, with an implied market capitalisation on listing of approximately $2.9bn.
  • Advised J.P. Morgan and Credit Suisse as Joint Global Coordinators and Joint Bookrunners and IPOPEMA as Joint Bookrunner on the IPO of Huuuge, Inc., the Polish gaming company.
  • Acted for China Pacific Insurance (Group) Co., Ltd as its English, US and Hong Kong law counsel on its IPO in 2020.

Cooley (UK) LLP

Claire Keast-Butler leads Cooley (UK) LLP's capital markets practice, which advises issuers and underwriters on ECM transactions involving disruptive industries, notably the technology and life sciences sectors. US-qualified partner David Boles is the other key figure in the team, which had a strong flow of work in 2020, including advising European issuers on IPOs and dual listings in the US. Highlights included acting for the underwriters, led by Cowen & Company, on the $127.5m IPO and NASDAQ listing of Compass Pathways. In addition, Boles led advice to the founders and senior management of a Euronext Amsterdam listed technology company on a €693m accelerated bookbuild transaction.

Practice head(s):

Claire Keast-Butler

Other key lawyers:

David Boles

Testimonials

Very responsive and knowledgeable team. Good at cross-border securities work.’

Claire Keast-Butler is very proactive and helpful.’

As a general observation, Cooley is a bit of the new kid on the block in European equity transactions but has successfully leveraged on its #1 position in tech and life science IPOs in the U.S. market in order to establish itself as the leading firm helping European companies access the U.S. capital markets through U.S.-registered offerings.’

Key clients

Wizz Air Holdings Plc

RenalytixAI

Immunocore

Silence Therapeutics

Autolus Therapeutics plc

Bicycle Therapeutics plc

Berenberg

Cowen & Company

Jefferies Group

J.P. Morgan

Endava plc

Bavarian Nordic

Scancell

Zealand Pharma

Pharming

MaxCyte

Work highlights

  • Advised Cowen & Company as the underwriters on the $244.8m public offering of American Depositary Shares by Adaptimmune Therapeutics plc, a leader in cell therapy to treat cancer.
  • Advised late-stage biotechnology company Immunocore, LLC, on a $273m IPO and listing on NASDAQ.
  • Advised RenalytixAI, an AI enabled diagnostics company, on its $85m global offering and dual listing on NASDAQ.

Dentons

Dentons is well-placed to handle an array of domestic and cross-border equity capital markets transactions, with its wide national reach being complemented by in-house US securities expertise and a far-reaching global presence. Key figures in the team include global equity capital markets head Nik Colbridge and Neil Nicholson, who leads the practice in the UK. The team is adept at handling small to mid-market IPOs and large international listings, as well as secondary offerings and public M&A. Clients include FTSE 250 companies and AIM-listed corporates, investment banks, NOMADs and brokers. In 2020, Cameron Half led advice to VGP NV on a €200m Rule 144A/Regulation S placement via an accelerated bookbuild offering to institutional investors, as well as a separate €109.18m Rule 144A/Regulation S placement of its existing ordinary shares held by its Belgian subsidiary. In another matter, Nicholson and senior associate Verity Kent acted for Science in Sport on its £4.5m share placing on the AIM market. Notable institutional clients include Canaccord Genuity, Peel Hunt, Stifel Nicolaus Europe and N+1 Singer.

Practice head(s):

Nik Colbridge; Neil Nicholson

Other key lawyers:

Cameron Half; Verity Kent

Testimonials

The team were highly flexible and able to adapt to a changing deal structure without any issues. The team were attentive and always available to assist where necessary.’

Verity Kent and Neil Nicholson were excellent to work with. Easy to have a sensible conversation with on the best way forward for the client and able to articulate the implications of legal advice or structuring clearly and concisely.’

All members of the team are very helpful and have proven themselves competent.’

Neil Nicholson has proven extremely adept at locating the ‘right’ legal resource for whatever we require. The advice is always commercially sensible and he provides what is needed rather than everything under the sun.’

The team is very proactive and helpful. They have strong knowledge of the law but the ability to apply that pragmatically to the circumstances.’

Neil Nicholson is very commercial and is very useful as a sounding board on a variety of different matters. Cameron Half is a very good US securities lawyer. Verity Kent is an extremely strong associate.’

Key clients

airBaltic

Housing Development Finance Corporation (HDFC)

Polymetal International plc

PRS REIT plc

Air Astana

VGP NV

D P Eurasia NV

O’Key Group S.A.

Frasers Group plc

Work highlights

  • Advised a syndicate of 11 major international investment banks and eight Indian investment banks as book running lead managers on a combined offering of $2.39bn, which includes shares, non-convertible debt and warrants, by Housing Development Finance Corporation Limited, the largest non-bank financial institution in India.
  • Advised the Joint Global Coordinators and Bookrunners (J.P. Morgan, Morgan Stanley, Swedbank and UBS acted as Joint Global Coordinators and Joint Bookrunners, and BofA Securities acted as Joint Bookrunner) on the IPO of AB Ignitis grupė – one of the largest utility and renewable energy companies in the Baltic region and majority-owned by the Lithuanian government. Raised €450 million in its Rule 144A/Regulation S initial public offering and dual listing of global depositary receipts on the London Stock Exchange and shares on Nasdaq Vilnius.
  • Advising Club Brugge, the leading football team in Belgium, as to US securities and English law on its proposed Rule 144A/Regulation S IPO and listing on Euronext Brussels.

DLA Piper

DLA Piper strengthened its ranks in 2020 by hiring corporate partner Jonathan Earle (who has significant experience in acting for public companies) and New York-qualified counsel John Stone from Gibson, Dunn & Crutcher and Linklaters LLP respectively. In another notable development, Robert Newman made partner. The EMEA capital markets practice is led by Alex Tamlyn, who has more than 30 years of experience in acting for clients on domestic and cross-border securities offerings and is chair of the London Stock Exchange Primary Markets Group. The broader team handles a myriad of complex matters, including AIM and Main Market IPOs, rights issuances and block trades. In addition, public M&A and demergers are among other drivers of work. Recent highlights included Tamlyn, Martin Penn and legal director Karin Kirschner advising Mothercare on its move from the Main Market of the London Stock Exchange to AIM. In 2020, the team also assisted Learning Technologies Group Plc with an £81.8m equity placing.

Practice head(s):

Alex Tamlyn

Other key lawyers:

Martin Penn; Charles Severs; Robert Newman; Karin Kirschner; John Stone; Johannes Poon; Jonathan Earle

Testimonials

The access to highly experienced partners who can construct wider teams suited to our business.’

The outstanding knowledge and experience of the senior partner on our account, bringing unique approaches which played a very key part in a successful transaction being achieved.’

Flexibility around our ever changing timetables.’

Karin Kirschner in particular is an absolute star. She understands our business and it felt as if she was an extension to us during the transaction, engaging with various stakeholders whilst emitting the softer skills to us as a client.’

Key clients

Accesso Technology Group plc

Allied Minds plc

Aptitude Software Group plc

Canaccord Genuity Limited

Chamberlin plc

Clinigen Group plc

CVS Group plc

Dechra Pharmaceuticals plc

Dignity Funerals plc

Hutchison China Meditech

Hyve Group plc

John Menzies plc

Knights Group Holdings plc

Learning Technologies Group plc

Medica Group plc

Mothercare plc

N+1 Singer Capital Markets Limited

Numis Securities Limited

Peel Hunt LLP

PureTech Health plc

RPS Group plc

Scapa Group plc

Staffline Group plc

Work highlights

  • Advised Hyve Group plc on its £126.6m rights issuance in response to the Covid-19 pandemic.
  • Advised Mothercare on its transfer from the Main Market to AIM.
  • Advised RPS Group plc on its accelerated bookbuild cashbox placing and subscription of new ordinary shares.

Gibson, Dunn & Crutcher

Gibson, Dunn & Crutcher undertakes equity capital markets work for clients from a broad cross-section of industries. It particularly stands out for high-profile matters in the technology and e-commerce sectors, with issuers and underwriters turning to the firm for advice on IPOs, placings, rights issuances and various other equity offerings, as well as public M&A. In one headline mandate, Steve Thierbach and Chris Haynes (who co-head the practice) worked with Sarah Leiper and others to advise Trustpilot on its recent £1.08bn London Stock Exchange admission and IPO. On the underwriter side, Thierbach and Haynes acted for Numis Securities Limited and J&E Davy on Hostelworld Group Plc's accelerated bookbuild cashbox placing in 2020. Elsewhere, the team has been notably active in London listings and IPOs of SPACs and cash shells, and is increasingly sought after by UK companies for advice on US listings.

Practice head(s):

Steve Thierbach; Chris Haynes

Other key lawyers:

Sarah Leiper

Testimonials

The team are great and always bring excellent subject matter knowledge to any issue.’

Chris Haynes – The advice from the partner is excellent. One of our most trusted business advisers.’

Chris Haynes and Steve Thierbach deliver a partner-led service, which is rare among the big law firms.’

Key clients

Amryt Pharma

AO World

Barclays Bank

Citigroup

Emirates NBD

Goldman Sachs

Morgan Stanley

Numis Securities

The Hut Group

UBS

Trustpilot

J.P. Morgan

Work highlights

  • Advised Trustpilot, a leading global review platform, in connection with its IPO and London listing, which was completed in March 2021.
  • Advised JP Morgan Securities Plc, Citigroup Global Markets Limited, Barclays Bank Plc, HSBC Bank Plc, Jeffries International Limited and Numis Securities Limited as the underwriters on The Hut Group’s £5.4bn London listing and IPO, making it the second largest ever technology listing on the London Stock Exchange by capital raised and, at the time, the largest ever e-commerce IPO in Europe.
  • Acting for Agility as the controlling shareholder on the IPO and Dubai listing of its subsidiary, Tristar, a leading global integrated liquid logistics solutions provider.

Greenberg Traurig, LLP

At Greenberg Traurig, LLP, Andrew Caunt leads the experienced capital markets team in London, which includes Dorothee Fischer-Appelt and James Mountain. With the group integrated into a wider global practice, it is highly active in advising issuers and financial institutions on domestic and cross-border transactions that are governed by English and New York law. The varied workload includes AIM and Main Market IPOs, secondary offerings and private placements.

Practice head(s):

Andrew Caunt

Other key lawyers:

Dorothee Fischer-Appelt; James Mountain

Norton Rose Fulbright

Norton Rose Fulbright's standing in the market is reflected by the fact that it is a first choice among many FTSE 250 and AIM-listed companies, listed funds, bulge-bracket banks and other financial institutions. Led by Raj Karia, the team is notably active in transactions with a nexus to the real estate, renewables infrastructure, oil and gas, mining, healthcare and life sciences, and financial sectors. In 2020, Thomas Vita led advice to Hyloris Pharmaceuticals on its €75m Euronext Brussels IPO; he was also part of the cross-office team, which acted for Citigroup, Jefferies and Commerzbank on the €115m IPO of Brockhaus Capital Management on the Frankfurt Stock Exchange. The firm also advised JP Morgan and Peel Hunt as joint bookrunners on LondonMetric Property Plc’s £120m placing by way of accelerated bookbuilding. Fiona Millington, Richard Sheen and Clementine Hogarth are among other names to note in the group, which is also highly active in emerging markets transactions, including those involving the Middle East and Africa.

Practice head(s):

Raj Karia

Other key lawyers:

Thomas Vita; Richard Sheen; Mark Lloyd Williams; Fiona Millington; Clementine Hogarth; Kit McCarthy; Kevin Connolly; Alexander Green

Testimonials

Extremely fast, extremely practical and solutions-oriented. We’ve loved working with them every time, as they help us navigate difficult and formalistic legislation with full comfort and without taking up huge resources.’

Tom Vita remains a great practical lawyer, guiding both legal professionals and the business through the ins and outs of arcane and byzantine US securities laws as they apply to EU offerings.’

Key clients

JTC PLC

Numis Securities Limited

Joh. Berenberg, Gossler & Co.

J.P. Morgan Securities plc.

Goldman Sachs International

Canaccord Genuity Limited

Société Générale

Citigroup

Peel Hunt

CI Capital Holdings S.A.E.

Rameda S.A.E.

Management Consulting Group PLC (MCG)

Warehouses De Pauw NV

Xior Student Housing NV

Credit Suisse

Investec Bank plc

Aedifica NV

Orascom Investment Holding

The Renewables Infrastructure Group

Work highlights

  • Advised Aedifica NV on its €459.2m rights offering.
  • Advised Investec Bank plc and Joh. Berenberg, Gossler & Co. KG as joint bookrunners in relation to a £180m accelerated bookbuild placing by Ceres Power Holdings plc.
  • Advised Investec Bank plc in connection with its role as sole broker and sole bookrunner on a £85m placing by Johnson Service Group plc.

Shearman & Sterling LLP

In 2020, Shearman & Sterling LLP grew its market share in relation to equity offerings in EMEA. The firm acts for issuers and underwriters on the entire range of transactions, including IPOs, secondary offerings, SEC-registered offerings and private placements. Its work spans the technology, energy, healthcare and industrial sectors, among others. Trevor Ingram heads up the department, with Pawel Szaja being another name to note. David Dixter joined Milbank in March 2021.

Practice head(s):

Trevor Ingram

Other key lawyers:

Pawel Szaja

Testimonials

‘The Shearman team offers a truly global perspective with respect to market practice and trends. They are very responsive, knowledgeable and solutions-oriented.’

‘Pawel Szaja is an exceptional transactional lawyer, bringing a breadth of capital markets knowledge and focus on finding effective solutions to challenges that arise on a transaction.’

Key clients

Tristar

ADNOC

City Lodge Hotels Limited

Work highlights

  • Acted as issuer’s counsel in connection with the placement of shares in ADNOC Distribution, a subsidiary of ADNOC listed on the AGX.
  • Acting as US and English counsel to the underwriters in connection with the planned Rule 144A IPO and listing of shares on DFM in the UAE of Tristar.
  • Advised City Lodge Hotels Limited (CLHG) in connection with its rights offering.

Simmons & Simmons

Simmons & Simmons has a diverse practice, handling matters ranging from large international fundraises to smaller domestic equity offerings. Led by Colin Bole, the practice particularly stands out in acting for bookrunners and sponsors on complex acquisition-related secondaries and equity refinancings by FTSE 250 listed corporate issuers (which usually involve a US offer). In 2020, the overwhelming majority of the firm's deals were on the Main Market of the London Stock Exchange and more than half involved a FTSE 100 or FTSE 250 issuer. In one mandate, Bole and others advised Evercore Partners International LLP as sole sponsor on AstraZeneca Plc’s $39bn Class 1 acquisition of Alexion Pharmaceuticals. Another key figure is Jamie Corner, who joined from Davis Polk & Wardwell LLP. Chris Walton left the firm.

Practice head(s):

Colin Bole

Other key lawyers:

Jamie Corner; Andrea Tompkins; Thomas Burgoo

Testimonials

Colin Bole is approachable and accessible and provides a steady pair of hands on ECM transactions.’

Key clients

Future PLC

Liberum Capital Limited

Investec Bank PLC

HSBC PLC

N. M. Rothschild & Sons Limited

Diploma plc

Liontrust Asset Management plc

Evercore Partners International LLP

J.P. Morgan Securities plc

Goldman Sachs International

UBS AG London Branch

M7 Real Estate Limited

Work highlights

  • Advised the syndicate of underwriting banks Investec, HSBC and Liberum, and Rothschild as listing rules sponsor, on the £100m firm placing, placing and open offer by Costain Group plc.
  • Advised FTSE 250 client Future plc on its £594m recommended Class 1 acquisition of GoCo Group Plc.
  • Advised FTSE 250 client Diploma plc on its £194m placing, subscription and retail offer to part finance its $465m acquisition of Windy City Wire Cable & Technology Products.

Sullivan & Cromwell LLP

Sullivan & Cromwell LLP has a well-established reputation in business-critical and market-shaping ECM transactions, evidenced in 2020 when John Horsfield-Bradbury, European counsel Abigail Yevnin and associate Kirsten Rodger acted for International Airlines Group on its €2.75bn rights issuance; this was launched in response to the Covid-19 pandemic and represented the largest equity offering by a UK issuer in 2020 and an issuer in the transport industry globally in 2020, and the third-largest equity offering in Europe in 2020. The group also advised Softbank on multiple complex and innovative offerings to monetise its stake in Alibaba. Oderisio de Vito Piscicelli, who coordinates the firm's Italian practice, has experience in handling equity offerings for issuers that represent over 35% of the Italian stock exchange’s total capitalisation. Vanessa Blackmore and Evan Simpson are among other individuals who are prominent in high-value transactions.

Practice head(s):

Vanessa Blackmore; John Horsfield-Bradbury; Evan Simpson; Oderisio de Vito Piscicelli

Other key lawyers:

Abi Yevnin; Kirsten Rodger; Chris Beatty

Testimonials

John Horsfield-Bradbury is excellent. Clear, cutting edge advice, and always thinking a few steps ahead. Gets to know his client’s needs inside and out, making him invaluable.’

S&C knows the market very well. This encompasses the latest legal knowledge and also developments beyond legal; at various occasions, S&C was better informed on market practice than a reputable financial adviser.’

Chris Beatty: a smart, creative and realistic lawyer. He is very knowledgeable and has a practical approach.’

Work highlights

  • Advised Bayer on its SEC-registered secondary sale of 54.5 million shares of Elanco Animal Health Incorporated which generated proceeds of approximately $1.6bn.
  • Advised BPER Banca S.p.A. on its €800m rights offering of ordinary shares.
  • Advised Greencore Group on its £90m cash-box placement of new ordinary shares via a private placement to US institutional investors and concurrent offering to non-US institutional investors in reliance on Regulation S.

Travers Smith LLP

Travers Smith LLP has an outstanding track record in high-profile and high-value AIM, Main Market and SFM listings. Its team is also adept at handling cash placings, rights issuances, reverse takeovers, block trades and tender offers, among various other matters. The firm acts for more than 60 publicly listed companies (a number of which are on the FTSE 350 index) and it also serves a substantial client base of investment banks. In addition, the firm generates a strong flow of work from London-listed investment funds and their sponsors. It particularly stands out in transactions involving the technology, fintech, retail and renewable energy sectors. In a recent highlight, team head Andrew Gillen  led a group that advised Foresight Group on its £455m Main Market IPO. In 2020, Tom Coulter (who was recently promoted to partner) led advice to Peel Hunt as nominated adviser, broker and sole bookrunner on Inspec Group Plc's £138m AIM IPO and £64m placing; while Aaron StocksDan McNamee and Brent Sanders handled the Main Market IPOs of Marwyn Acquisition Company I Limited, Marwyn Acquisition Company II Limited and Marwyn Acquisition Company III Limited. Adrian West and Richard Spedding are also recommended.

Practice head(s):

Andrew Gillen

Other key lawyers:

Richard Spedding; Adrian West; Dan McNamee; Spencer Summerfield; Aaron Stocks; Tom Coulter; Brent Sanders

Testimonials

Pragmatic advice on a very complex transaction, with 24/7 support. Excellent value.’

Commercial approach and partner involvement.

Dedication to the project, attention to detail and hard work.’

Commercial perspective to analysing issues.’

Proactivity and ability to think laterally.’

Key clients

Conduit Holdings Limited

Bytes Technology Group

Auction Technology Group

Foresight Group

S4 Capital plc

Canaccord Genuity

Panmure Gordon

Barclays

Berenberg

HSBC

WG Partners

RBC Europe

Jefferies International Limited

Peel Hunt

Numis Securities

Goldman Sachs

Work highlights

  • Advised start-up reinsurance company Conduit Holdings Limited on its $1.1bn Main Market IPO.
  • Advised Bytes Technology Group on its £646.6m Main Market IPO.
  • Advised Auction Technology Group on its £600m Main Market IPO.

CMS

CMS generates a strong flow of work from a large number of issuers (including FTSE 250 companies) and investment banks under the leadership of practice head Alasdair Steele. It is a strong choice for high-profile and complex transactions and offers UK and US securities law expertise. In 2020, highlights included acting for tinyBuild’s shareholder NetEase on the $470m AIM IPO of tinyBuild, and advising Aquila European Renewables Income Fund on its €155m placing programme and offer for subscription. Charles Howarth, who joined from Herbert Smith Freehills LLP in 2020, is experienced in UK and wider global capital markets transactions, including IPOs, placings, rights issuances and secondary market offerings. Iain Newman, Kristy Duane and Jack Shepherd are among other key individuals.

Practice head(s):

Alasdair Steele

Other key lawyers:

Charles Howarth; Kristy Duane; Iain Newman; Jack Shepherd

Testimonials

‘Extremely personable and easy to work with group. Excelled at helping us through a complex process which we had no prior experience of. Knowledgeable, patient, open, diligent and completely focussing on delivering customer expectations.’

‘Jack Shephard was extremely impressive in leading the assignment – he has very much become a trusted adviser.’

Key clients

Sequoia Economic Infrastructure Income Fund

APG Asset Management N.V.

RDI REIT PLC

Aquila European Renewables Income Fund

Stifel Nicolaus

Peel Hunt

Numis Securities

NetEase

Investec

Cenkos Securities

Primary Health Properties

London Metric Property

Blue Prism

Synairgen

Big Yellow Group

The Rank Group

Panmure

ActiveOps

N+1

ReNeuron Group Plc

Work highlights

  • Advising Sequoia Economic Infrastructure Income Fund on a £300m placing, open offer and offer for subscription and further £300m share issuance programme.
  • Advising APG Asset Management, one of the world’s largest pension investors and a major shareholder of Hammerson plc, on a £551.7m underwritten rights issuance undertaken by Hammerson in parallel with advising APG on the associated related party transaction and shareholder circular in relation to the £274m purchase of substantially all of Hammerson plc’s stake in VIA Outlets, a leading European premium outlet operator with 11 outlets in nine countries.
  • Advising longstanding client RDI, a UK property REIT listed on the London Stock Exchange, on the sale of its business to Starwood Capital Group, a private equity investment company.

Hogan Lovells International LLP

Hogan Lovells International LLP's wide international coverage and in-house US securities law expertise ensure that it attracts a strong flow of work from global and mid-market investment banks, as well as issuers. Maegen Morrison, Daniel Simons and Jonathan Baird are the key contacts in London. They handle a varied workload, including IPOs, secondary offerings, private placements and privatisations. In 2020, highlights included advising Mail.ru Group Limited on its issuance of $200m of global depositary receipts and its $400m unsecured convertible bond offering. In another matter, Simons led advice to Numis as sole bookrunner on a £10m equity placing by Nexus Infrastructure Plc. Baird has expertise in investment fund and asset management matters. Raj Panasar left the firm.

Practice head(s):

Maegen Morrison; Daniel Simons; Jonathan Baird

Testimonials

Hogan Lovells corporate/equity capital markets team not only went the extra mile to pull together a long prospectus, which required a huge effort given the timetable, but provided advice and pragmatic solutions along the way. There were some extremely unusual aspects to the transaction, particularly towards the end, where Hogan Lovells rose to the challenge, dealing with multiple parties’ demands.’

Key clients

Shaftesbury PLC

Jefferies International Limited Panmure Gordon (UK) Limited

Mail.ru Group Limited

Numis Securities Limited

Liberum Capital Limited

3i Infrastructure plc

J.P. Morgan Cazenove

UBS AG, London branch

Just Group

Goldman Sachs

CPI Property Group

TUI AG

Work highlights

  • Advising TUI AG on its approximately €500m rights issuance.
  • Advising Shaftesbury PLC on its equity capital raising which raised gross proceeds of approximately £297m by way of a fully underwritten firm placing and placing and open offer.
  • Advising Jefferies International Limited and Panmure Gordon (UK) Limited as bookrunners on the $1bn IPO and London standard listing of Conduit Holdings Limited.

Mayer Brown International LLP

Mayer Brown International LLP's team in London is well-versed in the English and US securities law aspects of IPOs and secondary offerings, as well as public company transactions that trigger regulatory notifications and other corporate work. The group includes Robert Flanigan, who has 20 years of experience undertaking equity capital markets transactions in the UK and further afield across the EMEA region. In 2020, he acted for Banco Santander and CaixaBank as the joint global coordinators on the IPO of Soltec Power Holdings on the Spanish stock exchanges through a Rule 144A/Regulation S offering. Other notable individuals include Robert Hamill, Rebecca Bothamley and senior associate Harriet Hainsworth, who advised sustainable fuels technology company Velocys Plc on a £20m equity fundraise. Beyond the energy sector, Hamill is active in equity offerings involving the mining, TMT, industrials and petrochemicals sectors, while Colin Scagell specialises in listings, secondary offerings and takeovers in the insurance sector. Kate Ball-Dodd is another name to note.

Practice head(s):

Kate Ball-Dodd; Robert Flanigan

Other key lawyers:

Robert Hamill; Colin Scagell; Richard Smith; Rebecca Bothamley; Harriet Hainsworth

Testimonials

‘Rob Flanigan has a deep understanding of the Spanish market and a real appreciation of Spanish law issues. I rely on his experience to resolve complicated cross-border issues. He is my first choice for US and English advice on capital markets deals.’

‘This team provide a first-rate client service. They are a pleasure to work with.’

‘Kate Ball-Dodd is an outstanding ECM lawyer. She provides clear technical advice with extremely helpful commercial insight.’

Key clients

Investec Bank plc

Liberbank, S.A.

Numis Securities Limited

Peel Hunt LLP

Velocys plc

Metrovacesa, S.A.

St Modwen Properties plc

Helical plc

Promotora de Informaciones, S.A.

GW Pharmaceuticals

Work highlights

  • Acting for Investec and Peel Hunt as joint broker in connection with a £465m placing by main market listed issuer JD Sports Fashion Plc, conducted through an accelerated bookbuild process.
  • Advising Banco Santander and CaixaBank, the joint global coordinators of the IPO of Soltec Power Holdings on the Spanish stock exchanges through a Rule 144A/Regulation S offering, the first IPO in Spain since 2018.
  • Advising Beazley plc on its $300m accelerated bookbuild placing via a cash box, one of several transactions the team undertook in the immediate aftermath of UK lockdown orders.