Latham Leads as Oscar-Winning Special Effects Firm Primes for UK Float
London-based DNEG is looking to raise £170 million with a listing.
October 16, 2019 at 04:22 AM
2 minute read
The Dark Knight, Credit: BagoGames/Flickr
British visual effects company DNEG has called on Latham & Watkins to advise on its anticipated IPO on the London Stock Exchange.
DNEG is an independent provider of computer-generated visual special effects in film and television, and has received five Oscars, four BAFTAs and an Emmy Award for its work on films such as The Dark Knight, Harry Potter: The Deathly Hallows and Inception.
Latham's team is led by capital markets partner James Inness. The firm is advising on all aspects of the IPO, which also entails addressing compliance issues for Prime Focus – DNEG's listed parent company in India.
According to a statement by Latham, the planned IPO will involve the issuance of new shares worth £150 million, as well as an offer of existing shares to be sold "by certain shareholders".
The London-based special effects provider expects the IPO will involve a free float of 25% of its issued share capital, while an over-allotment option of up to 15% of the total offer size would be made available by an existing shareholder.
Earlier in the year, Latham took a key role as Netflix set up its first U.K. production hub. The firm advised Pinewood Studios, led by real estate partner Neil Ferguson, corporate partner Brett Cassidy and capital markets partner Fritz Ernemann.
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