Ogier in the British Virgin Islands (BVI) has advised the underwriters UBS, Credit Suisse, JP Morgan, VTB Capital and Cowan and Company in relation to an initial public offering (IPO) by Luxoft Holding Inc, a software development services provider, of its Class A ordinary shares on the New York Stock Exchange.
The IPO raised approximately $69.7m for Luxoft, which will use the proceeds for working capital and other general corporate purposes.
Both Luxoft and parent company IBS Group Holding Ltd offered the same amount of shares in the IPO. Luxoft will not receive any proceeds from the shares sold by IBS.
Skadden, Arps, Slate, Meagher & Flom LLP and Ogier acted for the underwriters. The Ogier team comprised partner Simon Schilder, senior associate Lee Osborne and associate Oliver Bell.