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Banking & Finance - Capital Markets: Equity

Herbert Smith Freehills advises WorleyParsons on A$322 million entitlement offer to fund its acquisition of AFW UK Oil & Gas

18 Oct 2017

Herbert Smith Freehills is delighted to have advised WorleyParsons Limited (WorleyParsons) on its A$322 million underwritten 1 for 10 pro rata, accelerated non-renounceable entitlement offer of shares in WorleyParsons (Shares), announced to the ASX on 9 October 2017 (Offer).The Offer consists of an accelerated institutional rights issue and a retail rights issue, at an issue price of A$13.00 per new Share.

Hogan Lovells advises on £185 million equity fundraising by RWS Holdings plc to part-finance the US$320 million acquisition of Moravia US Holding Company Inc. and Moravia Lux Holding Company S.à r.l. (Moravia)

18 Oct 2017

Hogan Lovells London-based corporate team has advised Barclays and Numis Securities on their placing of £185 million of new equity in AIM-listed RWS Holdings plc (RWS) to institutional investors.

The Hogan Lovells team advising was led by London corporate partner Daniel Simons with assistance from partner John Basnage, and associate Elly Dennis.

The funds will be used by RWS, together with a new debt facility and existing cash balances, to acquire the entire issued share capital of Moravia for US$320 million.

White & Case Advises Vallourec on €250 Million Convertible and/or Exchangeable Bonds Offering

17 Oct 2017

Global law firm White & Case LLP has advised Vallourec on its offering of bonds convertible into new shares and/or exchangeable for existing shares (OCEANE) due 2022 for a nominal amount of approximately €250 million.

The bonds will bear a coupon of 4.125 percent, payable semi-annually in arrears on April 4 and October 4 each year, beginning April 4, 2018. They will be admitted to trading on the Open Market (Euronext Access) of Euronext Paris and the net proceeds will be used for Vallourec's general corporate purposes.

DLA Piper represents Vivo Capital in equity financing of Harmony Biosciences, LLC

16 Oct 2017

DLA Piper represented healthcare-focused investment firm Vivo Capital as the lead investor in a US$270 million equity financing of Harmony Biosciences, LLC, a biopharmaceutical company that develops orphan and rare disease therapies.

Harmony used the funds to acquire exclusive US rights from French company Bioprojet SCR for the development and distribution of the drug pitolisant, a selective histamine H3-receptor antagonist/inverse agonist used to treat narcolepsy.

Eversheds Sutherland advises Medica Group on its Main Market IPO

16 Oct 2017

Eversheds Sutherland has advised the UK market leader in teleradiology, Medica Group plc, on its initial public offering (IPO) on the London Stock Exchange, valuing the company at £150 million.

As part of the IPO, Medica’s major selling shareholder, CBPE Capital LLP, sold the majority of its stake in Medica and retained approximately 11% in the company which it had acquired from Nuffield Health in May 2013.

Hogan Lovells advises Bankhaus Lampe and Hauck & Aufhauser on the initial public offering of Voltabox AG

16 Oct 2017

Led by Frankfurt-based partner Prof. Dr. Michael Schlitt Hogan Lovells advised Bankhaus Lampe KG and Hauck & Aufhauser Privatbankiers AG on the initial public offering of Voltabox AG, a subsidiary of paragon AG.

Voltabox is a producer of battery systems based on lithium-ion technology. The company's shares were offered in a public offering in Germany and Luxembourg as well as private placements in other countries during an offer period that began on 26 September 2017 and ended on 10 October 2017. The final issue price for the offer has been set at EUR 24.

Ropes & Gray Represents Zai Lab Limited in its Initial Public Offering of American Depositary Shares

16 Oct 2017

Ropes & Gray acted as issuer’s counsel to Zai Lab Limited in its initial public offering (IPO) of 8,333,333 million American depository shares (ADS), with gross proceeds of $172.5 million. In addition, Zai Lab granted the underwriters a 30-day option to purchase up to an additional 1,250,000 ADSs at the IPO price of $18 per ADS.

White & Case Advises on Handicare Group IPO

16 Oct 2017

Global law firm White & Case LLP has advised Handicare Group AB (Handicare) and its principal shareholder, Nordic Capital, on the SEK 855 million initial public offering and listing of Handicare on Nasdaq Stockholm.

The IPO values Handicare at SEK 2.9 billion, and attracted strong interest from both Swedish and international institutions, as well as the Swedish general public and the board and employees of Handicare. Trading in Handicare's shares commenced on October 10, 2017.

Glenveagh Properties PLC Lists on the Irish and London Stock Exchanges

13 Oct 2017

Irish house-building company Glenveagh Properties PLC completed its listing on the Irish Stock Exchange and the London Stock Exchange and formally commenced trading, raising gross proceeds of €500 million, the second-largest IPO on the Irish Stock Exchange this year. The company develops and builds homes in Ireland, principally in the Greater Dublin Area. Paul, Weiss worked, together with Slaughter and May and A&L Goodbody, as issuer’s counsel.