3 September 2015
- Hans Beerlage, Han H.J. Teerink, Mark Jan Arends, Evert van der Kaa, Erwin Schreuder, Sara Schermerhorn, Floris Van de Bult, Michiel Sunderman, Pascal P. Borsjé
Clifford Chance advises Flow Traders N.V. on its IPO and listing on Euronext Amsterdam
A cross-border team led by Clifford Chance Amsterdam acted for Flow Traders N.V. ('Flow Traders') and its shareholders, including US private equity firm Summit Partners, on the IPO and listing on Euronext Amsterdam of Flow Traders. Flow Traders is a leading global technology-enabled liquidity provider that specializes in exchange traded products. It has operations across three continents with its headquarters in Amsterdam.
The IPO was priced at EUR 32.00 per share, and listing took place on 10 July. The offer price corresponded to an equity value for Flow Traders of approximately EUR 1.5 billion. After exercise of the over-allotment option, approximately 40% of the total share capital of Flow Traders was sold in the IPO, resulting in a total offering size of EUR 600 million.
This issuer's counsel mandate on a high-profile IPO on the Amsterdam stock exchange underscores Clifford Chance Amsterdam's top-tier position in equity capital markets. The team was led by Han Teerink, and included Hans Beerlage, Mark-Jan Arends (Notary), Evert van der Kaa, Luuk Wieringh, Wybren van der Zee and Veerle Cordemeijer from Amsterdam. Barbora Moring, Ryan Dunmire and Georg Hacket from Frankfurt and Bob Trefny from London provided US securities laws advice, whereas Erwin Schreuder (Amsterdam) and Steven Gatti and David Adams (both Washington DC) provided Dutch, EU and US regulatory advice. Floris van de Bult, Sara Schermerhorn and Isabelle van Kronenburg provided employment advice and Michiel Sunderman, Pascal Borsjé (all Amsterdam) and Avrohom Gelber and Lauren Clarke (both New York) advised on Dutch and US tax aspects respectively.
Morgan Stanley and UBS acted as Joint Global Coordinators and Joint Bookrunners, ABN AMRO and Credit Suisse as Joint Bookrunners and N.M. Rothschild & Sons Limited as the sole financial adviser to Flow Traders N.V. and its shareholders.