International law firm Eversheds has advised the management team and individual shareholders of AZ Electronic Materials in its £900 million initial public offering (IPO), one of the largest IPO’s in Europe this year.
Chemicals company AZ Electronics is a leading global producer and supplier of chemical materials used in electronics devices including Apple’s iPad.
Mark Spinner, Head of Corporate at Eversheds comments:
“It is great that the City has responded so positively to this IPO, especially in what has been a challenging economic climate. AZ Electronics is a longstanding client and we look forward to advising them on future matters.
“The fact that the AZ Electronics stock has traded at a premium since the IPO is a good sign and demonstrates increased investor appetite for private equity backed listings.”
Ken Greatbatch, AZ’s chief financial officer comments:
“We are delighted with the outcome of the IPO which received an excellent response from major institutions. The IPO demonstrates investors’ confidence in our business. Eversheds are a trusted partner of AZ Electronics and have provided invaluable assistance throughout.”
