Initial public offerings (IPOs), SPAC-listings, takeover offers, capital increases and reductions as well as delistings require specialized legal advice and insight into the dynamics of the Danish and European capital markets. Horten assists Danish and International clients in all aspects in connection with such transactions and has extensive experience with cross-border matters and dual listed issuers.
Trusted advisor on initial public offerings
We know that an initial public offering is a complicated and often demanding process. To make matters easier, we always aim to provide overview, be readily available and hands on as your trusted advisor throughout the entire process. We can be part of the process from the first hesitant steps, advising on options and challenges based on preliminary investigations and analyses and onwards to the full-out sprint and culmination of the initial public offering. In relation hereto, we draft prospectuses and/or verifications reports and regulatory announcements. We also assist in drafting and implementing the necessary rules and regulations required for any listed issuer.
Horten advises bidders, stakeholders and targets of a public takeover on all aspects of the process – including establishing a legal defence against hostile takeover attempts.
Our capital market team has experience in both voluntary and mandatory takeover offers and in both recommended and hostile takeovers. We advise Danish and international clients about relevant rules and regulations and help draft necessary documentation when intending to make a public takeover bid or when looking to mount a defence. We furthermore help with specialized advice when looking to acquire a controlling interest and the possibilities of compulsory redemption of minority shareholders.
When advising the bidder, Horten ensures efficient planning and implementation of takeovers. We always handle the contact to relevant markets and authorities and have unique experience interacting with the Danish Financial Supervisory Authority (FSA) and Nasdaq Nordic. When working on international takeover bids, we offer the optimal blend of Danish and international expertise in close collaboration with our international business partners.
Changes in capital structure
We advise on the options and challenges associated with raising capital and/or capital reductions. In this connection, we also participate in drafting prospectuses, including verifications and regulatory announcements. We handle the legal and regulatory contact to the relevant markets and authorities.
Our corporate team furthermore assists with specialised advice regarding structuring and carrying out security-based incentive programmes for the issuer’s employees and management.
When an issuer wishes to delist and go private, we excel at creating a constructive process through targeted advice about the necessary procedures, short-cuts and pit falls of delisting an issuer. In addition to drawing up the necessary documents, applications and regulatory announcements, we handle the contact to the relevant markets and authorities.
Special expertise in securities traded on First North
Horten has extensive knowledge and experience in advising clients listed on Nasdaq First North Copenhagen, a SME Growth Market. We advise companies that wish to introduce securities (either as an IPO or as part of raising additional capital) for trading on Nasdaq First North Copenhagen or are in need of general advice on the regulations applicable to issuers on Nasdaq First North Copenhagen. Both Danish and international clients can benefit from our expertise within this area.