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Banking & Finance - Capital Markets: Equity

Clifford Chance advised Ferratum on its successful IPO and listing at the Frankfurt Stock Exchange

11 Feb 2015

Clifford Chance advised Ferratum Oyj in connection with its successful €110.8 million initial public offering and listing of its shares on the Prime Standard of the Frankfurt Stock Exchange.

The Finnish Ferratum Group, a pioneer for mobile micro credits in Europe, offers short-term consumer loans. Ferratum’s customers can utilize digital media to apply for consumer credit in amounts varying between EUR 25 and EUR 2,000. Ferratum is operating in 20 countries worldwide and is among the first European FinTech companies which completed an IPO in Europe.

DLA Piper advises on Nexvet Biopharma IPO

10 Feb 2015

DLA Piper has announced that it represented Nexvet Biopharma (Nasdaq: NVET), a clinical-stage biopharmaceutical company focusing on companion animals, in its US$40 million initial public offering.

The DLA Piper team representing Nexvet Biopharma included partners Marjorie Sybul Adams (New York) and Andrew Ledbetter (Seattle), and associates Rachel Worth and Kerra Melvin (both Seattle), with DLA Piper senior counsel Bruce W. Jenett (Silicon Valley) overseeing the Nexvet Biopharma relationship.

IPO of Sunrise Communications Group on the SIX Swiss Exchange

10 Feb 2015

Sunrise has announced the launch of its initial public offering on the SIX Swiss Exchange with the publication of the offering memorandum and the start of the bookbuilding process. Sunrise, headquartered in Switzerland, is the second largest integrated telecommunications provider in Switzerland, based on revenues, and the leading alternative operator in both the mobile and landline retail voice markets, with approximately 2.5 million mobile and 0.4 million landline customers. Since February 6, 2015, the shares of Sunrise are listed and traded on the SIX Swiss Exchange.

Allens advises GPT Group on $325 million capital raising

10 Feb 2015

Allens has advised the GPT Group on its $325 million capital raising and the redemption of its Exchangeable Securities from GIC.

GPT raised the funds to redeem the exchangeable securities, which had been issued to GIC in 2008, via an equity raising, comprising a $325 million fully underwritten institutional placement and a non-underwritten purchase plan.

The Allens team on the matter was led by Partners Andrew Boxall, Kate Towey and Stuart McCulloch.

Debevoise Advises Clayton, Dubilier & Rice on £384 million Sale of B&M Shares

09 Feb 2015

The London office of Debevoise & Plimpton LLP has advised Clayton, Dubilier & Rice in the sale of 120 million ordinary shares in B&M, representing approximately 12% of B&M’s issued ordinary share capital.

The shares were sold at 320 pence per share, raising £384 million.

Clayton, Dubilier & Rice continues to hold approximately 17.4% of B&M’s ordinary shares.

B&M is a fast-growing discount retailer, operating from over 400 high street and out of town stores across the UK, as well as under the JA Woll brand in Germany.

Non-Standard Finance - proposed initial public offering

09 Feb 2015

Slaughter and May, working as a team with Paul, Weiss, Rifkind, Wharton & Garrison LLP, is advising Non-Standard Finance plc (NSF) in connection with its proposed initial public offering. NSF has been established to acquire and operate one or more non-standard consumer financial services businesses and intends to raise approximately £100 million from a placing of its shares with institutional and professional investors. The IPO was announced on 5 February 2015, with closing of the order book, publication of the prospectus and allocations expected the following week.

Deacons acts for Halcyon Capital in relation to the GEM listing of Odella Leather Holdings

09 Feb 2015

Deacons recently acted for the sole sponsor Halcyon Capital Limited and the underwriters in relation to the listing of Odella Leather Holdings. The listing will take place on the Growth Enterprise Market of the Hong Kong Stock Exchange by way of placing and is expected to raise up to HK$60 million.

Odella Leather specialises in the manufacture and sale of private-label leather garments for fashion brands on an original equipment manufacturers basis.

GrandVision announces indicative price range and offer size for planned IPO

09 Feb 2015

De Brauw has assisted GrandVision, a leading global optical retailer, and HAL on GrandVision’s IPO.

The IPO consists of a secondary offering of up to approximately 23% of GrandVision’s issued ordinary shares by founding shareholder HAL Optical Investments, an indirect subsidiary of HAL Holding. Listing of and first trading in the shares on Euronext in Amsterdam are expected on Friday, 6 February 2015.

Herbert Smith Freehills advises Coal India on US$3.6 billion share sale, among India's largest ever ECM deals

06 Feb 2015

Herbert Smith Freehills has advised the Government of India, as vendor, on the US securities and international capital markets aspects of a US$3.6 billion share sale by Coal India Limited on the Bombay Stock Exchange and the National Stock Exchange of India. The deal is the third largest equity capital markets deal in India ever and the largest share sale in the country in almost six years.