Practices

Equity Capital Markets

Our expertise:

Over many years, significant numbers of Irish and international public companies, sponsors and underwriters have chosen us for their large, complex or cross-border equity transactions.

Our capital markets experience is deep and broad, and we have advised on many of Ireland's largest and most complex equity capital markets and corporate finance transactions. Our ECM practice is recognised for the provision of innovative but practical advice on bespoke and complex, multi-layered transactions and structures that raise a range of legal issues, many with a cross-border element.

Representative clients include: AIB Group plc, C&C Group plc, Datalex plc, Greeencoat Renewables plc, Hostelworld Group plc, Irish Residential Properties REIT Plc (IRES REIT); Kenmare Resources plc, Kingspan Group plc, Origin Enterprises Plc; Hammerson plc; Trinseo plc; Alkermes plc.

Key areas:

Our work covers all types of capital market transactions and related company law issues, including:

• IPOs
• Public offerings, rights issues, open offers, placings and other capital raisings
• Restructuring, debt equitisations and recapitalisations
• Stock exchange listings and compliance
• Takeovers
• Privatisations
• Market abuse and securities law issues
• Corporate governance

Key highlights include advising:   

• Greencoat Renewables on its €270m IPO on ESM and AIM (2017) and on its share issuance programme and placings (2023, 2022, 2020, 2019, 2018)
• C&C Group plc on its 6-for-23 fully underwritten rights issue to raise gross proceeds of approximately £151 million (2021)
• Datalex plc on its €25 million capital raise (2021)
• Trinseo plc on its redomiciliation from Luxembourg to Ireland and the listing of the new Irish holding company on the NYSE (2021)
• Corre Energy on its 2021 IPO and admission to Euronext Dublin’s growth market (2021)
• Goodbody Stockbrokers in its role as global coordinator, bookrunner and Euronext Growth Advisor and Broker on the IPO of HealthBeacon (2021)
• Goodbody Stockbrokers on its role as placing agent in the €77 million secondary sale of shares by Kerry Co-op in Kerry Group plc (2021)
• Hammerson plc on its secondary listing on the main market for listed securities of Euronext Dublin (2020)
• Mainstay Medical on its delisting from Euronext Growth Dublin and Euronext Paris and establishment of a new Irish incorporated holding company and equity offering (2020)
• Goldman Sachs in its role as sponsor to Flutter Entertainment plc in connection with its acquisition of The Stars Group Inc. and the admission of the shares of the enlarged group to trading on the London Stock Exchange’s main market for listed securities and on the Euronext Dublin Market operated by Euronext Dublin (2020)
• J&E Davy in its role as sole bookrunner to Ryanair Holdings plc in its €400 million share placement (2020)
• I-RES REIT on its €135m accelerated placing (2019) and €215m placing and open offer (2015)
• J&E Davy and Shore Capital on Aminex’s £23m placings (2019, 2016)
• Mainstay Medical International on its €13.9m placing (2019), €30m placing (2018) and €30m placing (2016)
• IPL on its $175m IPO on Canadian TSX (2018)
• Goodbody Stockbrokers and Shore Capital on Applegreen’s €175m standby equity financing (2018) and €47m placing (2017)
• Allied Irish Banks on its €3.4bn IPO on the Irish and London Stock Exchanges (2017)
• Credit Suisse and Goodbody Stockbrokers on Cairn Homes’ €52m placing and listing on the Irish Stock Exchange (2017), €177m placing and open offer (2016) and €50m placing (2015)
• HSBC, Goodbody Stockbrokers, Jefferies International, Rabobank and Greenhill & Co. International on Greencore’s £440m rights issue (2016)
• Kenmare Resources on its US$275m capital raising and debt restructuring (2016)
• Credit Suisse and Goodbody Stockbrokers on Hibernia REIT’s €300m placing and open offer (2015) 
• Hostelworld Group on its €180m IPO on the Irish and London Stock Exchanges (2015)
• Goodbody Stockbrokers and Shore Capital on Applegreen’s on €70m IPO on ESM and AIM (2015)
• Ireland Strategic Investment Fund (as cornerstone investor) on Malin Corporation’s €330m IPO on ESM and AIM (2015)
• Deutsche Bank and J&E Davy on Permanent tsb Group’s €402m IPO on the Irish and London Stock Exchanges (2015)
• Mainstay Medical on its €90m IPO on the Irish and Paris Stock Exchanges (2014)
• Investec Bank and TD Securities on I-RES REIT’s €200m IPO on the Irish Stock Exchange (2014)
• Credit Suisse and Goodbody Stockbrokers on Hibernia REIT’s €385m on the Irish and London Stock Exchanges (2013)
• J&E Davy and J.P. Morgan on Green REIT’s €300m IPO on the Irish and London Stock Exchanges (2013)
• The Irish Government on the €1.1bn IPO of Aer Lingus (2006)
• Deutsche Bank, Citigroup, J&E Davy and Goldman Sachs International on the €1.5bn IPO of  Smurfit Kappa (2007)