Equity Capital Markets

Our Practice

Our equity capital markets (ECM) specialists, many of whom have spent time working at investment banks, advise on a full range of UK, US and domestic securities laws in relation to all types of equity and equity-linked transactions. These include IPOs, secondary offerings, block trades, global depositary receipt (GDR) offerings and convertible and exchangeable bond issues.

Our integrated US securities law team regularly advises on international equity offerings, with a particular focus on Rule 144A and Regulation S offerings.

We also have recognised expertise in structuring, launching and listing investment funds across a broad client base.

The Simmons & Simmons Equity Capital Markets team is ranked in Chambers UK 2017, endorsing its experience in advising "issuers, investor organisations and investment banks at every stage of both debt and equity transactions" and possessing "a diverse work portfolio that encompasses IPOs, convertible bonds and private placements."

ECM practice head, Chris Horton "balances his advice suitably with commercial awareness" and has "a good connection to bank-side work." Chambers UK 2017.

Experience

Our recent ECM experience includes advising:

Barclays and Numis

  • advising the underwriters in the £75m equity placing by Just Group plc as part of a capital strengthening programme

Mitsubishi UFJ Trust and Banking Corporation

  • advising the selling shareholder in the £349m secondary placing of shares of Standard Life Aberdeen plc

Evercore

  • advising Evercore in relation to Soco International plc’s £215m Class 1 acquisition

J.P. Morgan Cazenove

  • advising J.P. Morgan Cazenove in relation to Drax’s £702m Class 1 acquisition

UBS and Barclays

  • advising the underwriters on the proposed London premium-listed initial public offering (IPO) of ECI Telecom Group Ltd.

Barclays and Jefferies

  • advising the underwriters on the proposed London premium-listed IPO of Vannin Capital Holdings PLC

Investec and Numis

  • advising the underwriters on the £265m rights issue by ITE Group plc to fund the acquisition of the Ascential Exhibitions business

Barclays and HSBC

  • advising the underwriters on the £216m rights issue by John Laing Group plc

Fidante Capital

  • advising the joint sponsor, financial adviser and bookrunner on the £100 million placing and offer for subscription by fintech fund Augmentum Fintech plc

Barclays and J.P. Morgan Cazenove

  • advising the underwriters on the £331m rights issue by Provident Financial Group plc

J.P. Morgan Cazenove and Numis

  • advising the underwriters on the £170m placing by Unite Group plc

Sanne Group plc

  • advising the issuer on a £94.5m firm placing and placing and open offer and US$127.3m Class 1 acquisition

Rothschild, J.P. Morgan Cazenove and Numis

  • advising Rothschild as joint sponsor and financial adviser, J.P. Morgan Cazenove as sole global coordinator, joint sponsor and joint bookrunner and Numis as joint bookrunner in relation to Laird PLC’s £185m rights issue

J.P. Morgan Cazenove and Morgan Stanley & Co. International plc

  • advising J.P. Morgan Cazenove and Morgan Stanley & Co. International plc in relation to Vedanta Resources plc’s US$2.2bn merger with Cairn India Limited

J.P. Morgan Cazenove and RBC Capital Markets

  • advising J.P. Morgan Cazenove and RBC Capital Markets as joint global coordinators, joint sponsors and joint bookrunners in relation to 3i Infrastructure plc’s £350m open offer, placing and intermediaries offer and £130m additional demand issue

Numis

  • advising Numis as global coordinator, sponsor and bookrunner in relation to On the Beach Group plc’s £240m initial public offering of its shares and listing on the London Stock Exchange’s main market

J.P. Morgan Cazenove

  • advising J.P. Morgan Cazenove as sponsor and joint bookrunner in relation to JUST EAT plc’s A$855m acquisition of Menulog and a £448m placing and open offer

J.P. Morgan Cazenove and Numis

  • advising J.P. Morgan Cazenove and Numis as joint sponsors and joint bookrunners in relation to Kier Group plc’s £340m rights issue and £265m acquisition

J.P. Morgan Cazenove, Bank of America Merrill Lynch and Goldman Sachs

  • advising J.P. Morgan Cazenove as sole global coordinator, joint bookrunner and joint corporate broker, Bank of America Merrill Lynch as joint bookrunner and joint corporate broker and Goldman Sachs as joint bookrunner in relation to BT Group plc’s £12.5bn acquisition of EE and £1.0bn placing

NextEnergy Solar Fund Limited

  • advising the issuer on its £150m IPO and listing on the London Stock Exchange’s main market