3 July 2019
- Han H.J. Teerink, Hans Beerlage, Katja Busuladžić, Floris Van de Bult, IJsbrand De I. Jong, Liesbeth Buiter, Lotte De L Bruin
Clifford Chance advises on Fastned IPO
A Clifford Chance team is advising ING Bank N.V. as financial adviser on the IPO of Fastned on Euronext Amsterdam. Fastned is a provider of fast charging services to drivers of electric vehicles in Europe and is building a European network of fast charging stations. The company has a network of 101 stations, 88 of which in the Netherlands and 12 in Germany and it recently opened its first station in the United Kingdom.
Trading in the depositary receipts of Fastned on Euronext Amsterdam commenced on 21 June 2019, valuing the company at approximately EUR 300 million at start of trading. Fastned securities were previously listed and traded on Nx'change. The transition to Euronext is aimed at increasing Fastned's access to the capital markets and giving additional financing flexibility to help realise their growth strategy. No (depositary receipts for) shares were offered or sold as part of the move to Euronext.
The transaction confirms Clifford Chance's market-leading track record acting on high profile (Fin)tech transactions and IPOs, having acted as issuer's counsel on the Euronext Amsterdam listings of Adyen and Flow Traders previously. The firm also has a long history in the renewables sector, advising companies who are at the cutting edge of using new technology to harness renewable energy.
The Clifford Chance team on the transaction was led by Han Teerink in Amsterdam, and also included Hans Beerlage, Katja Busuladzic, Tom Smeele and Ruben van Diepen (ECM). The team also included Floris van de Bult and IJsbrand de Jong (HR) and Liesbeth Buiter, Lotte de Bruin and Johanneke Butijn (regulatory). Olivier Plessis and Ryan Bosch from Paris provided US securities laws advice.