Stephenson Harwood has advised easyHotel on its upcoming placing and admission to trading on the AIM market of the London Stock Exchange. Market capitalisation on admission will be £50m.
The easyHotel group was founded by Sir Stelios Haji-Ioannou in 2004. It is the international owner, developer, operator and franchisor of 1,600 rooms in 19 ‘super-budget’ branded hotels, spread from Edinburgh to Johannesburg and Dubai, including seven hotels in London.
Stephenson Harwood provided legal advice to easyHotel including advising on the placing, loan capitalisation, licencing and incentive arrangements and all aspects of the initial public offering (IPO), with 37,500,500 new shares being issued by easyHotel at 80.0p per share. Investec Bank acted as sole bookrunner, broker and NOMAD to the issue.
The Stephenson Harwood team was led by corporate finance partner Tom Nicholls. He was assisted by corporate associates Jen Tyson and Judith Elgood and trainee Will Carter together with intellectual property partner Alexandra Pygall and associate Simon Bollans and incentives partner Barbara Allen and associate Anika Chandra. Travers Smith advised Investec Bank.