Cains advises on Russian IPO
20th January 2010
Cains Advocates and its affiliated corporate service provider Cains Fiduciaries recently advised Russian oil and gas company Exillon Energy Plc on its initial public offering and listing on the Main Market of the London Stock Exchange. The IPO raised US$100 million.
Andrew Corlett, managing director of the Cains Group said that:
“After months of restructurings and quick-to-market placements, the capital markets are beginning to reopen for Russian issuers. This IPO shows there is investor interest in small-to-medium-cap Russian companies in the energy sector, following the recovery in oil prices in 2009, and we expect more IPOs to follow.”
Exillon Energy plc is an independent oil company, incorporated in the Isle of Man with upstream operations in two oil-rich regions of Northern Russia, Timan-Pechora and West Siberia.
The Cains team were led by Andrew Baker, Tim Shepherd and John Bateson.
Baker & McKenzie advised Exillon Energy on matters of, inter alia, English and Russian law. Bank of America Merrill Lynch and ING were the Global Coordinators and Joint Bookrunners and Mirabaud Securities also acted as Joint Bookrunner. White & Case represented the underwriters. |
