A capital raise is when a company approaches existing and potential investors to ask for additional capital (money) in the form of either equity or debt. Equity. Equity raising is when a company raises funds by issuing new shares.
Latham & Watkins is advising Rothschild as sponsor and Numis and Peel Hunt as joint bookrunners to Kier Group plc (Kier) on Kier’s underwritten firm placing, placing, open offer, and separate directors’ subscription, raising gross proceeds of approximately £241 million.
The capital raise, together with the recent sale of Kier Living Limited, will raise approximately £352.4 million of gross proceeds for Kier.
The proceeds will provide Kier, a leading infrastructure services and construction group, with the financial and operational flexibility to continue to deliver on its strategic objectives.
The Latham team was led by London corporate partner Chris Horton, with associates Sean Meehan and Frederick Gardner. United States securities advice was provided by partner Ryan Benedict and capital markets lawyer Irene Pistotnik.
Latham & Watkins Overview
Latham & Watkins LLP is an American multinational law firm. Founded in 1934 in Los Angeles, California, Latham is the second-largest law firm in the world by revenue. As of 2021, Latham is also one of the most profitable law firms in the world, with profits per partner exceeding US$4.5 million.