A number of domestic and cross-border equity deals complying
with the Prospectus Directive (PD) have come to market in July
and lawyers say the new regime is proving easy to navigate.
Initial public offerings (IPOs) on the London Stock Exchange
in July by RHM, one of the UK's leading food producers, and
Novatek, a Russian gas producer, were the first new equity
deals in the UK to be closed in compliance with the PD, which
came into effect on July 1. Banco Santander earlier completed a
compliant secondary listing in London but did not issue new
Skadden Arps Slate Meagher & Flom was involved in both
IPOs. The firm represented RHM on its offering and advised
underwriters Morgan Stanley, Credit Suisse and UBS in the
Novatek offering. Latham & Watkins advised Novatek, while
Allen & Overy represented sole bookrunner Credit Suisse and
the co-lead managers in RHM's flotation....