Practice areas

We have a proven ability to handle the most complex and demanding equity capital markets ("ECM") work for our clients.

This includes advising on both the main market of the London Stock Exchange and on AIM.  In addition to the provision of ongoing advice to listed clients, we advise on specific transactions advising issuers, underwriters, sponsors and NOMADS, as well as selling shareholders, on primary and secondary transactions across all industry sectors.  Our expertise and experience includes advising in relation to:

• initial public offerings;
• secondary fundraising;
• fund listings;
• re-domiciliation; and
• PIPEs.

We have significant experience in advising issuers, sponsors/nominated advisers and selling shareholders in relation to IPOs on both the main market of the London Stock Exchange and AIM.  As a result of our market leading private equity practice, we have particular expertise in the use of IPOs as a private equity exit and considerable insight into the issues which arise for all parties.  Particularly, we have significant experience of managing "dual track" exit processes in which an IPO is pursued alongside a sale process in order to maximise value.

We frequently advise issuers and sponsors/nominated advisers on secondary issues including rights issues, placings and open offers.  This is an area where market practice is evolving rapidly and, through our roles on transactions, we are able to ensure we remain at the forefront of these developments.  We are recognised as one of the leading M&A advisers in the UK and we also have particular expertise in advising on fundraisings by listed companies seeking to finance acquisitions.

Working alongside our fund formation colleagues, we have advised on numerous fund listings in London, Dublin and the Channel Islands.  A number of the funds we have advised have undertaken one or more secondary fundraisings following their listing.  In addition, many have migrated to the main market of the London Stock Exchange from the market on which they were originally traded.

More recently, given the current UK taxation regime, a number of our clients have re-domiciliation abroad for tax purposes.  This involves a new listing and we have considerable experience of the issues surrounding such re-domiciliations.

We also advised on one of the first private investments in public equity (PIPE) to take place in the UK, developing the PIPE model familiar in the United States for use in the UK market.  Given our pre-eminent private equity practice, we continue to advise clients on PIPE opportunities on a regular basis.