Equity Capital Markets

• Financial Services

• IPOs
• REITs
• Rights issues
• Equity placings
• Market abuse and securities law issues
• Entitlement issues
• Privatisations
• Pre-IPO fundraisings
• Tender options and buyback programmes
• Corporate governance, shareholder relations and activism

We are at the forefront of transactions in the Irish equity capital markets and some recent deals we advised on include:

• Advising Davy Stockbrokers and others on the placing of additional shares in Corre Energy BV on the Euronext Dublin market, raising €8.9m. This was the first fundraising in the Irish public market in 2023.
• Advising Irish-headquartered Fulcrum Metals PLC on its successful IPO on London’s AIM Market, including pre-IPO restructuring and financing using convertible loan notes.
• Advised Davy Stockbrokers as Placing Agent and Euronext Growth Advisor in relation to the IPO of Corre Energy B.V. and in a subsequent placing of shares in 2022.
• Advising IMC Exploration Group plc in its all share acquisition of the Karaberd gold mine in Lori Marz, northern Armenia by means of a reverse takeover of MVI Ireland s.r.o. This was conditional on the issue of an FCA approved prospectus, a waiver of Rule 9 of the Irish Takeover Rules by the Irish Takeover Panel and shareholder approval by IMC’s shareholders. The consideration for the acquisition by IMC of MVI Ireland s.r.o, was the allotment and issue of 349,399,716 new ordinary shares of €0.001 each in the capital of IMC to Mineral Ventures Invest spol. s r.o.. Such shares (together with additional shares allotted to members of the existing board and others in consideration for professional services rendered) were admitted to the standard listing segment of the Official List of the Financial Conduct Authority and to trading on the London Stock Exchange plc's main market for listed securities on 1 November 2023.
• Advising Rothschild & Co in 2023 on the cash confirmation for a £17.8m offer to buy the entire share capital of Irish public company, Glantus Holdings plc by way of a recommended scheme of arrangement, made by Finnish invoice automation specialists Basware through its wholly owned Irish subsidiary, Genesis Bidco Limited.
• Advising Roebuck Food Group plc (formerly Norish plc) in its proposed acquisition of Scottish food ingredient distributor Moorhead & McGavin Ltd and a share issue and listing on AIM to fund the acquisition. The transaction is subject to shareholder approval at an upcoming EGM.
• Advising Kieran Wallace of Interpath Advisory, in his capacity as examiner of Barryroe Offshore Energy Public Limited Company (Barryroe) in connection with the examinership of Barryroe under Part 10 of the Companies Act 2014 (as amended). The rescue plan involved an investment in Barryroe by Lorsden (Jersey) Limited of €1,050,000, comprised of initial funding of €800,000 and an additional sum of €250,000 for working capital requirements. Lorsden (Jersey) Limited also agreed to make an additional €5,000,000 available to Barryroe on agreement and approval of an appropriate business plan. We also advised on obtaining a Rule 9 waiver from the Irish Takeover Panel in respect of any obligation on the part of the investor to make a general offer which would otherwise have arisen, and we advised on the de-listing of Barryroe. The proposals for the scheme of arrangement were approved by the High Court on 3 November 2023, with 8 November being the date of implementation. On that date, the interest of the shareholders in the total issued share capital of Barryroe were eliminated. Following that, the admission of shares to trading on AIM ceased on 9 November 2023.
• Advising Citibank N.A and Bank of America N.A in their roles as joint lead arrangers and bookrunners in connection with the $28.5 billion senior unsecured bridge loan facility secured by Amgen Inc. to fund its offer for Horizon Therapeutics plc.
• Advising Eastdil Secured, Credit Suisse, JP Morgan Securities plc and Société Général, financial advisors to Brookfield Asset Management in respect of the acquisition of Hibernia REIT plc in June 2022. The takeover was for over €1 billion in cash, and Brookfield paid £1.63 per share, a 33.9% premium on the weighted average share price over the 3 months prior to completion.