Freshfields lands IPO

Freshfields Bruckhaus Deringer has landed its second major gaming IPO as the magic circle firm continues to benefit from the surge of activity in the sector.

According to well placed sources Freshfields is advising regular client Cassava, the Gibraltar-based company that runs the website, on its forthcoming £700m London IPO.

The mandate to advise Cassava follows Freshfields’ role advising Partygaming on its much publicised £5bn IPO in June. Partygaming turned to Freshfields in favour of longstanding legal adviser Berwin Leighton Paisner in relation to its listing because the company wanted to instruct a firm with more experience of handling major IPOs.

According to reports is expected to launch its IPO tomorrow (1 September).

Freshfields declined to comment.