Conyers Dill & Pearman

Offshore Top 30 position: 6

Conyers advises underwriters on Lenta initial public offering

Conyers Dill & Pearman has advised the underwriters, Credit Suisse, Deutsche Bank, JP Morgan, VTB Capital, UBS and TBG Capital, on the initial public offering (IPO) of Lenta, a Russian hypermarket chain. Global depositary receipts of Lenta began trading on the main market of the London Stock Exchange and the Moscow Stock Exchange on 5 March 2014.

The listing results in Lenta becoming the most valuable publicly listed British Virgin Islands (BVI) company, with a market capitalisation of approximately $4.3bn (£2.6bn). The selling shareholders in Lenta’s IPO raised approximately $1bn.

The Conyers team, which worked alongside Skadden, Arps, Slate, Meagher & Flom on the transaction, was made up of Anton Goldstein and Patrick Ormond.

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