Freshfields Bruckhaus Deringer and Clifford Chance (CC) have advised on Global Ports Investments' $534m (£333m) flotation on the London 
Stock Exchange.

Freshfields took the lead role for the Russian terminal operator on its initial public offering (IPO) on the main London market, with the firm's team including London-based Sarah Murphy, co-head of the firm's international capital markets practice, as well as Moscow partner Dmitry Surikov and a team of associates in London and Moscow.

CC advised the underwriting banks including Deutsche Bank, Goldman Sachs and Morgan Stanley, with European co-head of equity capital markets Adrian Cartwright and US securities partner John Connolly leading the London-based team.

The deal makes Global Ports one of only a small number of companies to have secured a float in a difficult IPO market.

Murphy commented: "One of the main reasons why so many IPOs have been pulled this year has been due to a mismatch in pricing compared to what the market was willing to pay. Global Ports has taken a long-term view and opted for a reasonable pricing. The fact that it managed to launch is a testament to the company's strong position in the market and the fact that its owners have longstanding experience of completing this type of deal."

Global Ports, a container terminals operator serving Russian cargo flows, is controlled by N-Trans Group, one of the largest privately-owned transportation and infrastructure groups in Russia.