Hogan Lovells advises Shaftesbury on placing of ordinary shares

Hogan Lovells has advised long-standing client Shaftesbury on the placing of 25,250,000 new ordinary shares, announced on 6 March 2014.

The shares were placed at a price of 620p each, raising gross proceeds of approximately £156.6m. The placing shares represent approximately 9.99 per cent of Shaftesbury’s issued ordinary share capital prior to the placing.

The Hogan Lovells team advising Shaftesbury was led by London corporate partner Nigel Read, supported by senior associate Fergus Gallagher and associate Ben Coleman; US securities partner Peter Kohl and associate Jaime Huertas; and tax partner Karen Hughes and senior associate Fiona Bantock.