In another busy week for initial public offerings (IPO), Allen & Overy (A&O) and Ashurst have won key roles on the prospective IPO of UK IT infrastructure provider Softcat.
Ashurst is acting as English and US legal adviser to the fast growing company, thought to be valued at around £500m, ahead of its float on the stock exchange next month. Nicholas Holmes, head of Ashurst’s equity capital markets practice is leading, with US partner Jennifer Schneck acting on the US securities side.
A&O is advising joint sponsors, joint global co-ordinators and joint bookrunners Credit Suisse and Jefferies on the transaction. The team at A&O is jointly led by corporate partner James Roe and US securities partner Adam Wells.
Ernst & Young is also acting as reporting accountants for Softcat, which hopes to be eligible for inclusion in the FTSE UK index series by March 2016. The funds will be raised through the sale of shares currently held by the founders, senior members of the management team and some current and former employees.
Last week also saw A&O win a key role on retirement homebuilder McCarthy & Stone’s planned £1bn flotation.
An A&O team led by corporate partner Richard Browne with support from equity capital markets partner James Roe and US securities partner Adam Wells is advising McCarthy & Stone, which wants to return to the stock market almost a decade after it was taken private.
Underwriters Deutsche Bank AG, Goldman Sachs and Jefferies International are being advised by Freshfields, with partner Mark Austin leading the team.
Other recent IPO mandates for A&O includes work on the listings for Equinity, Worldpay, Ibstock and Funding Circle.
kathryn.mccann@legalease.co.uk