Clifford Chance

Clifford Chance advises on US$250 million initial public offering of RusPetro – the first premium listing in London since July 2011

Clifford Chance has advised BofA Merrill Lynch as Sole Global Coordinator and Sole Sponsor and BofA Merrill Lynch, Mirabaud Securities and Renaissance Capital as Joint Bookrunners on the US$250 million initial public offering ("IPO") of Russian oil and gas explorer and producer RusPetro and premium listing on the London Stock Exchange.

The deal is significant being the first on London's main market since July 2011, the first for a Russian company since fertiliser producer Phosagro raised $538 million in London in July[1] and the first IPO to raise more than $200 million since Polymetal in October[2]. Clifford Chance advised on both of those transactions and in total has advised on six Russian IPOs listing in London in the last 12 months.

Adrian Cartwright, co-head of the European Equity Capital Markets Practice and lead partner on this transaction, said:

"Our involvement in this transaction consolidates the market-leading position of the Clifford Chance equity capital markets team in London and Moscow advising on six London-listed IPOs for Russian issuers in the last 12 months ".

The Clifford Chance team in London also included US Securities partner Chris Walton, senior associates Iñigo Esteve and Chin Lee, associate James Simpson and trainee solicitor Rudolf Simone-Pont. Moscow partner Arthur Iliev and associate Ramil Fayziev advised on Russian law aspects of the transactions.

[1] Source: Reuters

[2] Source:Bloomberg