Simpson Thacher is representing Silver Lake in connection with a recommended offer by a wholly owned indirect subsidiary of funds managed by Silver Lake Management Company V, LLC for the entire issued, and to be issued, share capital of ZPG plc (“ZPG”), which was announced on May 11, 2018, at 490 pence (US$6.64) per share.
Skadden advised Polyphor Ltd. in connection with its initial public offering of shares on the SIX Swiss Exchange.
Gowling WLG's investment funds team has acted on Odyssean Investment Trust PLC's initial public offering (IPO) which raised £87.5m.
Odyssean Investment Trust, the new smaller companies investment trust managed by Stuart Widdowson, raised the proceeds through a total of 87,457,210 ordinary shares issued at 100 pence a share.
Travers Smith LLP is advising Panmure Gordon (UK) Limited (as lead financial adviser, nominated adviser and joint bookrunner) and Numis Securities Limited (as financial adviser and joint bookrunner) on the proposed £61.4 million acquisition of the MeetingZone Group and connected £50.0 million placing by LoopUp Group plc.
South African food company, Libstar Holdings, has raised ZAR3bn from its successful IPO with shares commencing trading on the main board of the Johannesburg Stock Exchange. This comprised a primary raise of R1.5billion and a secondary sell-down of R1.5billion from existing shareholders. International investors showed significant interest in the company, comprising over 30% of the final book of demand.
Linklaters acted for Standard Bank and JP Morgan as joint global coordinators on the transaction.
Frankfurt/Main – Munich-based telephony provider NFON AG has made its debut on the public stage, with more than 4.1 million shares being placed with investors at EUR 12 per share during the IPO. The transaction generated proceeds of EUR 80.5 million, with the company receiving around EUR 50 million of this total. The company plans to use the funds to drive expansion of its business activities in Europe, as well as investing in research and development on new products. The initial listing on the Deutsche Börse’s Prime Standard took place on 11 May.
Ashurst advised Joh. Berenberg, Gossler & Co. KG as Global Coordinator and Joint Bookrunner as well as Baader Bank AG and ODDO BHF as Joint Bookrunners in relation to the initial public offering (IPO) of NFON AG on the regulated market of the Frankfurt Stock Exchange (Prime Standard) as underwriters' counsel. The cloud PBX provider's debut on the stock market took place on 11 May with the shares rising by 10.5 percent to €13.26 on the day of the first listing.
Global law firm Clyde & Co has advised Saudi Tabreed District Cooling Company on the private placement of a significant minority stake to IDB Infrastructure Fund II, an investment fund managed by ASMA Capital Partners and regulated by the Central Bank of Bahrain.
Saudi Tabreed is the leader in the district cooling sector in Saudi Arabia, providing flexible, long-term contracts for the supply of cooling to a range of customers.
Latham & Watkins has advised on the US$3.2 billion initial public offering of Avast, the largest ever tech IPO on the London Stock Exchange.
Avast has been admitted to the Premium Listing Segment of the Official List and the Main Market of the LSE. The Offer, priced at 250 pence per share, includes gross primary proceeds of US$200 million and secondary proceeds of US$617 million, pre-greenshoe, and represents a market capitalization at the commencement of conditional dealings of approximately US$3.2 billion.
Cravath represented Drax Finco plc in connection with its $300 million 144A/Reg. S high-yield senior secured notes offering. Drax Finco plc is an indirect wholly owned subsidiary of Drax Group plc, a vertically integrated electricity generation and supply business with operations in the UK and U.S. The notes were listed on the Luxembourg Stock Exchange. The transaction closed on April 26, 2018.