Freshfields Bruckhaus Deringer and Linklaters have won roles on the flotation of medical device maker ConvaTec, in what is set to be one of the biggest IPOs in London since this June's Brexit vote.

ConvaTec, which makes medical products including colostomy bags, announced yesterday (3 October) that it intends to float on the London Stock Exchange by early November.

The flotation is expected to raise approximately $1.8bn (£1.4bn) via an issue of new shares in the company, which will primarily be used to pay existing debt. It will also provide a partial exit for its private equity owners, Nordic Capital and Avista Capital Partners.

Freshfields is acting as lead adviser to the company, while Linklaters is acting for the banks. Corporate partner Christopher Mort is leading the team from Freshfields, while the Linklaters team includes London corporate partners James Wootton, Dan Schuster-Woldan and Mike Bienenfeld.

Wootton said the deal is "good news for the City" as there are "a lot of banks involved".

He also said it was significant that the company was private equity backed as "there is speculation about the relative dearth of M&A buyouts for private equity funds, so this keeps the IPO exit route on the table".

The lead banks on the deal are Bank of America Merrill Lynch, Goldman Sachs and UBS Investment Bank. Other banks involved include Credit Suisse, Deutsche Bank, JP Morgan Cazenove and Morgan Stanley. The co-lead managers are stock brokers Peel Hunt and investment bank RBC Capital Markets, while investment bank Evercore is acting as financial adviser to ConvaTec.

Recent IPO mandates for Freshfields include acting for lead underwriter Deutsche Bank in connection with the planned listing of price comparison site Go Compare, by insurer Esure.