Clifford Chance advised Swedish TF Bank AB (publ) in connection with its successful initial public offering and listing on Nasdaq Stockholm. TF Bank is an online-based niche-bank offering consumer banking services through a highly automated, in-house developed, IT platform.
The Firm has represented Apax Partners LLP on the block trade sale by Crystal A Holdco S.à r.l. and Crystal B Holdco S.à r.l. (entities indirectly wholly owned by Apax Europe VII) of, in aggregate, 18.4 million ordinary shares in Auto Trader Group plc (the “Company”). The secondary offering, which was effected by way of an accelerated book build, has raised, in aggregate, gross sale proceeds of approximately £76.4 million. Settlement will take place on June 14, 2016, subject to the satisfaction or waiver of certain customary conditions.
Simpson Thacher recently represented Alibaba Group Holding Limited (“Alibaba Group”) in connection with the monetization by SoftBank Group Corp. (“SBG”) of a portion of the shares of Alibaba Group held by SB China Holdings Pte. Ltd., a wholly owned subsidiary of SBG. These transactions included an approximately $6.6 billion offering by a trust established by SBG of Mandatory Exchangeable Trust Securities which are exchangeable into American Depositary Shares of Alibaba Group to qualified institutional buyers pursuant to Rule 144A under the U.S.
Shearman & Sterling acted as counsel to Banco Popolare – Società Cooperativa (Banco Popolare) in connection with its approximately €1 billion pending rights issue.
The offering by Banco Popolare of 465,581,304 new ordinary shares pursuant to transferable pre-emptive subscription rights granted to existing holders of its ordinary shares includes a retail offering in Italy and an offering outside the United States to certain institutional investors in reliance on Regulation S under the US Securities Act of 1933.
International technology, media and telecoms law firm Olswang has advised leading online estate agent, HouseSimple, and its founders on a multi-million pound equity fundraising round, involving an institutional investor and Carphone Warehouse founder and existing shareholder, Sir Charles Dunstone.
HouseSimple offers a full estate and letting agency service for a fixed fee contingent on the successful sale of the property plans. The company plans to leverage this cash injection to further develop its offering and build market share.
International law firm Simmons & Simmons has advised Samsung Asset Management (Hong Kong) Limited (‘Samsung’) on the listing of the first inverse and leveraged products ever in Hong Kong.
The four products commence trading on The Stock Exchange of Hong Kong today, 13 June 2016.
Global law firm White & Case LLP has advised Anil Chalamalasetty and Mahesh Kolli, the founders of Greenko Energy Holdings, on a US$230 million equity fundraising.
Greenko Energy is a leading owner and operator of renewable energy assets in India with a diversified portfolio of more than 1,000 MW of wind and hydro assets. The funding is being provided by an affiliate of Singapore's sovereign wealth fund GIC, which will invest US$80 million, and an entity that is wholly-owned by the Abu Dhabi Investment Authority, which is investing the remaining US$150 million.
Stibbe advises Basic-Fit, the largest "value-for-money" fitness club operator in Europe as measured by number of clubs, on its IPO.
Ashurst advised Time Out Group plc ("Time Out"), the multi-platform media and e-commerce group on its successful £195 million initial public offering on AIM.
The IPO comprises a new issue of 60 million ordinary shares at an issue price of 150 pence per ordinary share, raising gross proceeds of £90,000,000. Based on the issue price, the market capitalisation of the Company at Admission will be approximately £195 million. Admission to trading on AIM will become effective at 8.00 a.m. on 14 June 2016.
Today’s Amsterdam stock exchange flotations of the ASR insurance company and the Basic-Fit chain of fitness clubs bring the total number of newcomers on the exchange in 2016 to six. Of those transactions, five were handled by the international law firm of NautaDutilh: besides ASR and Basic-Fit, they were Sif, ForFarmers, and Coca-Cola European Partners. "This confirms our leading position as public M&A firm," says NautaDutilh's managing partner Erik Geerling.