Linklaters has advised the Joint Global Coordinators and Joint Bookrunners, Emirates NBD Capital, Merrill Lynch International and HSBC Bank Middle East Limited, and Joint Bookrunner, EFG Hermes, on the successful $375m IPO and listing on the Dubai Financial Market of Dubai-based supermarket chain Spinneys 1961 Holdings plc (“Spinneys”), resulting in an implied market capitalisation of approximately $1.5bn.
Spinneys is the first Dubai International Finance Centre company to list on the DFM and the second Dubai IPO to include a price stabilization mechanism.
The cross-border Linklaters team, advising on US, English and UAE law, was led by Linklaters’ Global Chair of Equities, Jason Manketo (London & Dubai), alongside managing associate Patrick Sutton-Mattocks (Dubai) and US associates Kevin Stump and Alexandra Kovaliouk (London).
This is the latest IPO advised on by Linklaters’ Global Corporate and Equities Group in 2024, which has also recently advised on the IPOs of Atalaya Mining, RENK Group, Athens International Airport and Theon International.
