CC and Links in for DP World's trophy IPO
Magic circle duo Clifford Chance (CC) and Linklaters have seized the lead roles on the planned initial public offering (IPO) of Dubai port operator DP World on the Dubai International Financial Exchange. The deal is likely to be the largest stock market flotation seen to date in the Middle East, with DP World expected to raise some $4bn (£1.94bn) through selling around 20% of its shares to investors.
October 22, 2007 at 11:30 AM
3 minute read
The original version of this story was published on Law.com
The deal is likely to be the largest stock market flotation seen to date in the Middle East, with DP World expected to raise some $4bn (£1.94bn) through selling around 20% of its shares to investors.
CC is taking the lead for the ports operator, with corporate partner Iain Hunter - who relocated to Dubai from London in May - leading the team alongside City-based US securities partner Michael Dakin.
CC is a regular adviser to DP World and earlier this summer Dubai-based partner Debashis Dey advised the company alongside Dakin on a $500m (£248m) medium-term notes programme and $1.5bn (£744m) sukuk.
A Linklaters team that features capital markets partner Jason Manketo is advising the underwriting banks - including Merrill Lynch and Deutsche Bank - on the IPO, which is expected to close in late November.
Linklaters has also advised DP World in the past, with the City giant acting for the client on its £3.4bn takeover of British ports company P&O last year.
The deal is likely to be the largest stock market flotation seen to date in the Middle East, with DP World expected to raise some $4bn (£1.94bn) through selling around 20% of its shares to investors.
CC is taking the lead for the ports operator, with corporate partner Iain Hunter - who relocated to Dubai from London in May - leading the team alongside City-based US securities partner Michael Dakin.
CC is a regular adviser to DP World and earlier this summer Dubai-based partner Debashis Dey advised the company alongside Dakin on a $500m (£248m) medium-term notes programme and $1.5bn (£744m) sukuk.
A
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