Ashurst has advised the underwriters, Credit Suisse Securities (Europe) Limited, Numis Securities Limited and Canaccord Genuity Limited, on the £420 million IPO of Foxtons Group plc and its admission to the premium listing segment of the Official List of the FCA and admission to trading on the main market for listed securities of the London Stock Exchange plc.

The IPO comprised an offer of 186,393,927 ordinary shares of the Company, representing approximately 66.1 per cent. of the ordinary share capital of the Company in issue at the time of Admission at an offer price of 230 pence per ordinary share. The IPO raised gross proceeds of approximately £420 million, comprising a primary component of £55 million and the balance in secondary sales. Secondary sales consisted of a partial sell-down by Adnams BBPM Holdings Limited (an entity controlled indirectly by funds advised by BC Partners), executive directors of the Company and certain other employees of the Foxtons group. The prospectus prepared by Foxtons in connection with the IPO was published on 20 September 2013 and LSE admission took place on 25 September 2013.

In connection with the IPO and Admission, Credit Suisse and Numis Securities acted as joint sponsors and joint bookrunners. Canaccord Genuity acted as co-lead manager. N M Rothschild acted as financial adviser to the Company.

The Ashurst team was led by corporate partner Nick Bryans, assisted by senior associate Padmini Singla, solicitor Graham Jewell and trainee solicitors Andrew McLaren and Laura Carter. Partner Jennifer Schneck led the US team, assisted by associate Jessie Heners. Counsel Caroline Chambers also assisted on the deal. Foxtons was advised by Dickson Minto W.S.