Firm News
Mishcon de Reya advises Noida Toll Bridge Co. Ltd on the first GDR issue on AIM for a listed Indian company
| Release Date: |
21 March 2006 |
| Law Firm: |
Mishcon de Reya |
| Client Name: |
Noida Toll Bridge Company Limited |
| Description of Deal: |
GDR issue on AIM |
| Market Capitalisation: |
US $45 Million |
| Deal Completion Date: |
21 March 2006 |
| Firm's Key Personnel: |
Corporate Partner, Ross Bryson led the team assisted by: Matthew Lindsay (Banking Partner), Stuart McMaster (Corporate Assistant), Chris Jones (Corporate Assistant), Craig Timmis (Corporate Paralegal) |
| Other Parties: |
Luthra & Luthra Law Offices (Indian legal advisers to the Company)
Collins Stewart (Nomad and broker)
Edelweiss Capital (co-distributor)
Olswang (lawyers to Nomad)
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Mishcon de Reya has acted for Noida Toll Bridge Company Limited ("NTBCL") on the first GDR (Global Depositary Receipt) issue on AIM for a listed Indian company. NTBCL is also listed on the Bombay Stock Exchange and the National Stock Exchange of India and has raised US $45 million (before expenses) under the GDR issue.
The GDRs represented approximately 31.5% of NTBCL's enlarged issued share capital and the notional market capitalisation of the company on the date of admission on 21 March 2006 was US $142.87 million. The transaction also included a 10% over-allotment option for stabilisation purposes.
Corporate Partner, Ross Bryson led the Mishcon de Reya team assisted by banking partner Matthew Lindsay and corporate assistants Stuart McMaster and Chris Jones.
This represents the sixth AIM admission on which Mishcon de Reya has advised in the first quarter of 2006.
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