Supporting NYSE Listings of Jersey Companies

The Client

Jersey companies Clarivate plc and Atotech Limited.

The Challenge

Advising on a Jersey company listing on the New York Stock Exchange (NYSE) and a complex reorganisation, pre-initial public offering (IPO).

Solution

Working closely alongside Latham & Watkins LLP in the US and London, Ogier’s Corporate team advised on the Jersey legal and regulatory aspects of both transactions and listings.

Clarivate continued in 2020 to undertake a US$6.8 billion combination with CPA Global, one of the world’s largest Intellectual Property management and technology solutions firms with its head office in Jersey. Multiple Ogier teams assisted on the landmark transaction, including corporate, employment, pensions, property and competition.

Ogier advised Atotech Limited on its US$498 million IPO on the NYSE in February 2021. To celebrate, Atotech CEO Geoff Wild was invited to virtually ring the Opening Bell of the exchange, which values the company at US$3.7 billion.

Results

“The growing number of Jersey companies admitted to trading on the New York Stock Exchange (NYSE) illustrates the jurisdiction’s acceptance and an understanding of the benefits of using Jersey vehicles, in particular where the businesses also have connections to the UK,” says Ogier Partner Richard Daggett, whose long-time client Clarivate plc listed on the NYSE in 2019.

Lead Partner on the Atotech deal, Raulin Amy said: “This transaction involved a complex reorganisation pre-IPO and having the support of our corporate administration team, Ogier Global, to provide a seamless service was invaluable”. Ogier Global provided input on both the IPO and pre-IPO restructuring.

Richard Daggett added: “It’s great to see Jersey carving a reputation for itself beyond the UK. Jersey companies are viewed as stable and flexible platforms for acting as holding companies, whether listed or unlisted”.