Global law firm Clifford Chance advised a syndicate of underwriters, comprising J.P. Morgan, Morgan Stanley, BNP PARIBAS, Goldman Sachs and ING on the €300 million equity issuance by CTP N.V., Europe’s largest publicly listed industrial developer by gross leasable area.
This is the first time that CTP has raised equity capital from the market since its IPO in 2021, a transaction that Clifford Chance also advised the syndicate of underwriters on and which was the largest Real Estate IPO in Europe since 2014.
The transaction was structured by way of an accelerated primary bookbuild offering made to institutional investors alongside a direct equity subscription by CTP’s founder, Remon Vos.
The placing and subscription, comprising the issuance of new ordinary shares in CTP, raised approximately €227 million and €73 million in gross proceeds respectively. The shares were admitted to trading on Euronext Amsterdam on 19 September 2024.
The cross-border Clifford Chance team was led by ECM Partner Christopher Roe out of London, alongside Senior Associate James Koessler and Associate Inês Teixeira, and further comprised partners Han Teerink (Amsterdam) and Johannes Juette (Singapore), and counsel Olivier Plessis Paris).
