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White & Case Advises Banks on TMK SPO

White & Case Advises Banks on TMK SPO

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White & Case has advised Credit Suisse Securities (Europe) Limited, Morgan Stanley & Co. International plc, VTB Capital plc, and Aton LLC as Joint Bookrunners on the RUB 10,416.7 million (approximately USD 175 million) secondary public offering (SPO) of 138,888,888 existing ordinary shares in PAO ‘TMK’, a leading global manufacturer and supplier of tubular products for the oil and gas industry. Latham advised PAO 'TMK'.

PAO 'TMK''s ordinary shares and Global Depository Receipts are listed on the Moscow Exchange and London Stock Exchange, respectively. The TMK SPO is, along with the recent Detsky Mir IPO (on which, as reported by CEE Legal Matters on February 20, 2017, White & Case also advised), one of the first Russian equity offerings in 2017 to date.

"This successful transaction, which follows the Detsky Mir IPO, is another important milestone for Russian equity markets at the beginning of 2017," said White & Case Partner Darina Lozovsky, who led the firm's deal team. Lozovsky was joined on the team by Moscow Local Partner Dmitry Lapshin, Partner Inigo Esteve (London) and Associates Monica Holden (London), Amulang Povaeva, and Yulia Akulinina (both Moscow).

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Founded in 1993, Egorov Puginsky Afanasiev & Partners is the leading full-service law firm in the CIS with offices in Russia, Ukraine and Belarus and associated offices in the UK, the USA and Cyprus.

We advise its clients in many areas of law, including: dispute resolution in Russia and abroad, corporate law, M&A, antitrust issues, project finance and PPP, restructurings and insolvencies, energy and natural resources, property management and privatization, environment, technical regulation and industrial safety, banking and finance, intellectual property, criminal law, real estate and construction, taxation, family and labour disputes, marine and transport law, and international trade and customs.

We combine high academic qualifications, internationally acknowledged moral and ethical values, senior partners' professional experience and practical abilities with the vigour and knowledge of younger attorneys that enables thus providing clients with reliable, first-class service according to both Russian and western standards through a flexible structure.

All News about, and Legal Analysis by, Egorov Puginsky Afanasiev & Partners can be found here.

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