Clifford Chance set for lead role as DP World plans London listing
Clifford Chance (CC) is in line for a leading role as DP World prepares to list on the London Stock Exchange. The magic circle firm is understood to be advising the Dubai-owned ports operator, which announced yesterday (6 January) that it will pursue an initial public offering (IPO) in London after seeing a drop-off in share prices. DP World is a longstanding client of CC, with the firm also taking a lead role on the company's $5bn (£3.1bn) listing on the Dubai International Financial Exchange (DIFX) in 2007.
January 07, 2010 at 07:24 AM
2 minute read
Clifford Chance (CC) is in line for a leading role as DP World prepares to list on the London Stock Exchange.
The magic circle firm is understood to be advising the Dubai-owned ports operator, which announced yesterday (6 January) that it will pursue an initial public offering (IPO) in London after seeing a drop-off in share prices.
DP World is a longstanding client of CC, with the firm also taking a lead role on the company's $5bn (£3.1bn) listing on the Dubai International Financial Exchange (DIFX) in 2007.
While DP World has yet to make formal legal appointments for the London IPO, it is understood that CC, with a team led by client relationship partner Iain Hunter, has been advising the company on the matter since before Hunter's relocation from Dubai to London last summer.
Hunter took a lead role on the 2007 listing while on a two-year secondment to Dubai in a bid to win new investment clients for CC, working alongside US securities partner Michael Dakin.
Dakin has since left CC to join Middle East-based holding company Future Group as its chief legal officer last year.
The Dubai IPO also involved former DP World adviser Linklaters, which took the role for the underwriting banks, including Merrill Lynch and Deutsche Bank. Linklaters had previously acted as lead adviser to DP World – including acting on its £3.4bn takeover of P&O in 2006.
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