Firm News

Investment Funds: Mishcon de Reya advises Yatra Capital Limited

Release Date:

24 October 2007

Mishcon de Reya advised existing client, Yatra Capital Limited, a limited liability company incorporated and established as a listed fund in Jersey with a listing on Eurolist by Euronext Amsterdam N.V, on a successful placing of new ordinary shares, raising gross proceeds of approximately €120 million. Mishcon de Reya also acted on the initial listing and €100 million fundraising in December 2006.

Head of the Firm’s Investment Funds Group, Christopher Jones led the team assisted by Shika Thakrar, Karl Huckle, Vishvas Kanji, Robin Bennett, Victoria Wilson and Rhymal Persaud.

Speaking about the transaction, Christopher Jones stated: “We are delighted that Yatra has successfully concluded a secondary fundraising in such a short space of time and in a comparatively difficult market. Yatra stands out from many of its peers because of the excellent work of its investment advisor Saffron Capital Advisors which has helped the Company invest most of its first fundraising in less than 10 months. It is still trading at a premium to its initial offer price, unlike many of the other listed vehicles investing in Indian property.”

ABN AMRO Rothschild and Fairfax I.S. Plc acted as Joint Global Coordinators and Bookrunners for the offering, whilst ABN AMRO Bank N.V. acted as the Listing Agent.