ContourGlobal plc Initial Public Offering and LSE Listing
11/30/2017

Davis Polk advised ContourGlobal plc in connection with its initial public offering. The IPO comprised a primary offering of 122,399,020 new ordinary shares raising net proceeds of approximately £281 million for ContourGlobal and a secondary offering of 54,026,083 existing ordinary shares raising net proceeds of approximately £133 million for the selling shareholder, ContourGlobal L.P., which is ultimately owned by Reservoir Capital Group, LLC, Contour Management Holdings, LLC and certain current and former management individuals of ContourGlobal plc. ContourGlobal L.P. provided an over-allotment option in respect of 26,463,765 ordinary shares. The ordinary shares of ContourGlobal plc have been admitted to the premium listing segment of the Official List maintained by the Financial Conduct Authority and to trading on the London Stock Exchange plc’s main market for listed securities.

The offering consisted of a private placement to certain institutional investors in various jurisdictions, including the United Kingdom and the United States. The shares are admitted to trading on the London Stock Exchange under the symbol “GLO.”

ContourGlobal was founded 12 years ago by Joseph C. Brandt (President & Chief Executive Officer) and Reservoir Capital and is an owner and operator of contracted wholesale power generation businesses, with 69 thermal and renewable power generation assets in Europe, Latin America and Africa.

The Davis Polk capital markets team, which advised as to matters of English and U.S. law, included partners Simon Witty, John Banes and Dan Hirschovits and European counsel Simon J Little and Jamie Corner. Partner Joseph P. Hadley provided credit advice. Partner Jonathan Cooklin and counsel Alon Gurfinkel provided English and U.S. tax advice. Members of the Davis Polk team are based in the London and New York offices.