Pinsent Masons and DLA Piper drive through Motorpoint float
DLA and Pinsents advise as car supermarket Motorpoint is admitted to the London main market
May 16, 2016 at 04:44 AM
2 minute read
Pinsent Masons and DLA Piper won the key roles as car supermarket Motorpoint was admitted to the London main market on Friday.
Motorpoint, the UK's largest independent vehicle retailer, was admitted to the main market on Friday, with a valuation of £200m.
Its shares were priced at 200p a share on Friday and rose to 216.5p a share by the time the market closed.
Pinsent Masons acted for Motorpoint with a team led by corporate finance partners Rob Hutchings and Hannah Brader.
DLA Piper acted for Numis, the broker coordinating the IPO, and Shore Capital, the co-bookrunner.
Leeds corporate finance partner John Gallon led the team for DLA.
Rothschild acted as Motorpoint's financial advisers.
Hutchings said: "The IPO market remains a little choppy so the success of this transaction is welcome for the markets and furthers our credentials as specialists, not just in main market transactions but in the automotive sector more generally."
Earlier this month, chocolate company Hotel Chocolat floated on the AIM market in a placing that valued the company at £167m.
On that deal, Stephenson Harwood acted for the company and Travers Smith acted for the nominated adviser, broker Liberum Capital.
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