Ogier is leading offshore adviser to European IPOs

Friday 20 March 2015

Ogier has been ranked in the top ten London legal advisers to 2014 European Initial Public Offerings, new research shows.

In a study released by Experian on IPO transactions in 2014, Ogier features in the top ten by value (£1,236 million) alongside magic circle firms Allen & Overy, Clifford Chance, Freshfields Bruckhaus Deringer and Linklaters.

The firm, which has offices in Jersey, Guernsey, Luxembourg, Cayman Islands, BVI and Hong Kong, was ranked 12th in the previous year.

There is a promising potential IPO pipeline for 2015, says the head of Ogier’s Jersey Corporate and Commercial team.

Ogier partner Raulin Amy said: “Ogier is delighted to be listed in the 2014 European IPO deal table compiled by Experian, having worked on a significant number of IPOs on which Ogier worked including Boohoo.com, MySale Group and Russian supermarket chain, Lenta.

“Activity at the start of 2015 has included the listing of ton the premium segment in London. Ogier have also advised the principal shareholder of John Laing on the IPO of John Laing on the London Stock Exchange. Jersey continues to be a favoured jurisdiction for main market listings in London given its general flexibility and also as a result of shares in Jersey companies being capable of trading through CREST. The corporate team at Ogier continues to be at the forefront of offshore capital markets work and IPOs in particular with several transactions in the pipeline over the coming months.”

In its European overview, which also ranks financial advisers, brokers and accountants, Experian recorded 279 completed IPO transactions on European Stock Exchanges in 2014, 11% more deals than in 2013.

Experian sayid: “The long term trend suggests a steady increase in the number of deals since 2009, with 2011 being the exception due to an unusually high number of small transactions on the NewConnect platform of the Warsaw Stock Exchange. Even though the volume of IPOs did not quite match the levels of activity recorded prior to the financial crisis, 2014 proved a bumper year for European IPO’s. The number of deals increased despite the Eurozone’s slower-than-expected recovery, and in terms of value we recorded completed deals worth a total of GB£30bn. This represents not only an increase of 16% on the 2013 figures, but also the second highest value achieved over our ten year review period, surpassed only by 2007’s figure of GB£33bn.”

Experian put the value down to a number of large IPOs and the rising number of PE-backed transactions, which grew in popularity as an exit route for financial sponsors. In addition to the IPOs Ogier have also been involved with the largest public M&A deals in Jersey in 2014 including the sales of Heritage Oil and Kentz corporation.