Clifford Chance advises on £550m Crest Nicholson IPO
Clifford Chance has advised Barclays and HSBC, as joint sponsors, joint global coordinators and joint bookrunners, and Numis as lead manager, in connection with housebuilder Crest Nicholson Holdings plc's successful IPO and Premium Listing.
The transaction, the biggest IPO in the London market since Direct Line in October 2012, sees the company return to the public markets after being taken over by its lender in 2009 in the wake of the credit crisis. Gross proceeds raised were £247m, valuing the company at approximately £553m.