Mourant Ozannes has advised Vallares plc, a Jersey company, on its flotation on the Main Market of the London Stock Exchange.
Vallares, a 'special purpose acquisition company' backed by former BP chief executive Tony Hayward and financiers Nat Rothschild, Julian Metherell and Tom Daniel, raised £1.35bn just seven days after making an announcement that it intended to launch an initial public offering (IPO).
Vallares intends to acquire or establish a major company, business or asset that has significant operations in the resources sector and may achieve this objective through the acquisition of interests in one or more complementary companies, businesses or assets, focussing on oil and gas emerging market enterprises.
In 2010, Mourant Ozannes also advised on the £700m flotation of Vallar plc, a special purpose acquisition company also backed by Nat Rothschild. Vallar plc has since completed transactions to create a leading natural resources group with the largest coal producing assets in Indonesia.
The £1.35bn raised in the Vallares IPO makes it the second largest flotation on the London Stock Exchange this year following on from the flotation of Glencore plc which completed in May. Mourant Ozannes also acted as the sole Jersey legal adviser to Glencore plc. Jacqueline Richomme, partner at Mourant Ozannes who led the legal team on the Vallares transaction, commented:
"We are delighted to have advised on another hugely significant IPO in the London market this year, following on from Glencore earlier this year and Vallar last year, reiterating the attraction of Jersey for such sizeable listings."
Other lawyers from Mourant Ozannes who worked on the Vallares flotation included senior associate Paul Martin in Jersey, with partner Andrew Walters and senior associates Richard Holden and Helen Wyatt providing advice in relation to Guernsey aspects. Mourant Ozannes advises more FTSE-100 and FTSE-250 Jersey and Guernsey companies than any other offshore law firm, according to the latest Hemscott rankings.