Public Markets

Companies listed, or considering listing, on a public stock market such as the Official List or AIM are bound by the rules of that market as well as the general law. The directors of a public company also need to consider the interests of a wider range of stakeholders. A public company needs advice from professionals experienced in this sector.

How can we help?

We have a wide experience in advising companies on transactions involving AIM, the Official List and OFEX.

We can advise you on IPOs, the implications of becoming a public company and the responsibilities of being a director of a public company. We can advise you on offer structures and whether or not you are required to draw up a prospectus.

Once you are a public company, we can advise you on your continuing obligations under the Listing Rules, the AIM Rules or the OFEX Rules. We can advise you on corporate governance and share dealing codes, and also on secondary fundraisings whether by way of placing, rights issue or open offer.

The Listing Rules, the AIM Rules or the OFEX Rules contain restrictions on the ways in which public companies can undertake transactions and, in particular, acquisitions and disposals. We can advise you on the requirements of these restrictions and also on the content of circulars that may need to be sent to shareholders.

Takeovers of public companies have their own regime – The Takeover Code. We can advise bidders, targets and finance providers on making an offer or receiving an offer approach under The Takeover Code. This approach may be recommended or hostile and cash, loan notes, shares or a mixture of the three.

Our public markets services

• Advising on initial public offerings (IPOs) and secondary offerings on AIM , the main market of the London Stock Exchange and OFEX
• Advising on corporate governance and continuing obligations
• Advising on public takeovers both recommended and hostile