Equity Capital Markets

We have Ireland’s leading practice in new issue work, advising on initial public offerings and secondary issues of shares and other securities on the Irish, London and New York Stock Exchanges and other international markets. We have advised on Ireland’s largest capital raisings and the most innovative investment structures. We regularly advise our clients on issuing listed securities as consideration for acquisitions, and on Irish securities laws issues more generally.

“A standout performer in the Irish market”

– The Legal 500: Europe, Middle East & Africa, 2016

Some of our most significant deals involved advising:

  • The issuers on the initial public offerings of Aer Lingus, Applegreen, eircom, Green REIT, Paddy Power, Presbia, Strongbridge Biopharma and TVC Holdings
  • Greencore Group on its £440 million equity rights issue
  • Allergan (NYSE listed) on its US$10 billion accelerated share repurchase
  • Fyffes on its €47 million equity placing
  • James Hardie Industries (Australian Stock Exchange listed) on its accelerated share repurchase
  • NTR’s €100 million return of capital
  • The Irish Minister of Finance, as controlling shareholder, on the capital restructuring, IPO and sale of shares in Permanent TSB
  • Davy as sponsor of the €330 million IPO of Malin Corporation on the Irish Stock Exchange
  • Actavis on its public offerings of US$4.2 billion of ordinary shares and US$4.2 billion of mandatory convertible preference shares to assist in the funding of the acquisition of Allergan, Inc.
  • The underwriters of the US$40 million IPO of Nexvet Biopharma on NASDAQ
  • CRH on its €1.6 billion “cashbox” placing to raise funds for the acquisition of certain assets from Holcim and LaFarge, the largest cash box placing in Irish corporate history
  • Paddy Power on its €392m return of capital by way of a B share scheme
  • UBS AG on the share for share exchange offer for its entire issued share capital, using an Irish prospectus structure, to establish a new group holding company, UBS Group AG, whose shares are listed on the SIX Swiss Exchange and the NYSE
  • TVC Holdings on its €91 million return of capital to shareholders and cancellation of trading on AIM and ESM
  • Green REIT on its €460 million equity placing
  • Bank of Ireland on its €500 million cash-box placing and preference share redemption
  • Allegion on its demerger from Ingersoll-Rand, and the listing of its shares on the New York Stock Exchange
  • Mallinckrodt on its demerger from Covidien, and the listing of its shares on the New York Stock Exchange
  • The National Treasury Management Agency on the exchange of Irish Government bonds for €30.6 billion worth of promissory notes issued by the Minister for Finance to the Irish Bank Resolution Corporation (In Special Liquidation)
  • The Irish Government on the disposal of €1 billion of convertible capital notes in Bank of Ireland, and the redemption and securitisation of its redeemable preference stock
  • Alkermes on an underwritten offering of its shares
  • The Irish Government on the recapitalisations of Allied Irish Banks, Bank of Ireland and Irish Life & Permanent mandated by the IMF-EU Programme for Ireland, the largest capital-raisings in Irish corporate history
  • The National Treasury Management Agency on the transfer of €15.8 billion of deposits and assets from (i) Irish Nationwide Building Society to Irish Life & Permanent (€3.6 billion) and (ii) from Anglo Irish Bank Corporation to Allied Irish Banks (€12.2 billion)