Global law firm White & Case LLP has advised Credit Suisse Securities (Europe) Limited, Morgan Stanley & Co. International plc, VTB Capital plc and Aton LLC, as Joint Bookrunners, on the RUB 10,416.7 million (approximately US$175 million) secondary public offering (SPO) of 138,888,888 existing ordinary shares in PAO ‘TMK’, a leading global manufacturer and supplier of tubular products for the oil and gas industry.

PAO 'TMK''s ordinary shares and Global Depository Receipts are listed on the Moscow Exchange and London Stock Exchange, respectively. Following the Detsky mir IPO, on which White & Case also advised, the TMK SPO is one of the first Russian equity offerings in 2017 to date.

"This successful transaction, which follows the Detsky mir IPO, is another important milestone for Russian equity markets at the beginning of 2017," said White & Case partner Darina Lozovsky, who led the Firm's deal team.

The White & Case team which advised on the transaction was led by partner Darina Lozovsky (Moscow & London) and local partner Dmitry Lapshin (Moscow), and included partner Inigo Esteve (London) and associates Monica Holden (London), Amulang Povaeva and Yulia Akulinina (both Moscow).