Ashurst advised residential property portfolio developer Noratis AG as transaction counsel on its successful initial public offering in the scale segment of the Frankfurt Stock Exchange.

The gross issue proceeds together with the over-allotment option amounted to €18.75 million. The company plans to use the proceeds of the capital increase primarily for the further financing of its growth, providing it with more flexibility to take advantage of acquisition opportunities for real estate.

Shearman & Sterling represented the underwriters, including Citigroup, HSBC, J.P. Morgan, Morgan Stanley and Rand Merchant Bank, as joint global coordinators on the $1 billion rights offering by Sibanye Gold Limited.  The rights offering was made on an SEC-registered basis, as well as in a public offering in South Africa.  This is the third-largest rights issue ever by a South African company and the largest ever acquisition-related capital raise in South Africa.

Allgeier SE, which is based in Munich and listed on the stock exchange, has increased its share capital by almost 10% using authorized capital. As part of the transaction, 907,149 bearer shares were issued at a placement price of EUR 18.10 per share. Using a book building process, the new shares were placed without a prospectus with international institutional investors, corporate members of the company and other executives of the Allgeier Group.

Essity Aktiebolag (publ) ("Essity"), the former hygiene business of Svenska Cellulosa Aktiebolaget SCA ("SCA"), is now a separately listed company with its shares trading on Nasdaq Stockholm.

King & Wood Mallesons (KWM) has advised the Open ANX Foundation Limited as Hong Kong and PRC counsel on its initial cryptographic token sale, which launched on 22 June 2017. The first of its kind in Hong Kong, the sale raised the equivalent of approximately USD15 million within its first 12 hours (out of the overall target of USD22.5 million).

The Open ANX Foundation was established under the direction of ANX International - an industry-leading, Hong Kong-based financial technology firm that is one of the world’s leading blockchain development firms.

Dentons is advising Hurricane Energy plc (Hurricane), the oil and gas fractured basement specialist, on its US$520 million fundraising, launched yesterday. The fundraising is one of the largest attempted by an oil company in London since 2014, when crude oil prices plummeted.

The early-stage venture capital investor Capnamic Ventures has successfully completed the final closing of its new tech fund with a volume of EUR 115 million (hard cap).

Capnamic Ventures, headquartered in Cologne and Berlin, was founded in 2013 and has already completed the investment phase of the first fund, on which P+P also advised. The investment objectives of the new fund are start-ups and technology companies, mainly in German-speaking countries, with a focus on B2B solutions, digital infrastructure and digital transformation.

Herbert Smith Freehills has advised the underwriting banks, led by Bank of America Merrill Lynch, Deutsche Bank and Davy acting as joint global co-ordinators, on Allied Irish Banks p.l.c.'s (AIB) €12 billion listing on the Irish Stock Exchange and London Stock Exchange. This is the biggest flotation in London since 2011.

Osborne Clarke has advised Yoyo Wallet on their £12m Series B fundraising from wholesale and food retailer Metro AG, asset managers Woodford Investment Management and tech investor Touchstone Innovations. 

Launched in 2013, Yoyo Wallet is the UK’s fastest growing mobile payment app. The app allows customers to earn loyalty rewards and receive personalised offers, whilst offering retailers the opportunity to influence and simplify their customer’s purchasing behaviours.

We advised Finnish IT service company Digia Plc and the lead manager Evli Bank Plc in a rights issue. The rights issue was oversubscribed, and the company raised gross proceeds of approximately EUR 12.5 million through the issue.