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Interpretation of and compliance with stock exchange regulations require still more resources and specialised knowledge. Moreover, there is an increased focus on principles and the corporate governance code, and stock exchange regulations, including the ongoing duty of disclosure, prohibition against market abuse and the rules governing offering and listing of securities, have grown more technical.

We advise on the offering, trading and regulation of securities, verification, takeover of listed companies and de-listing. Our clients include C25 companies as well as large-cap and small-cap companies listed on NASDAQ Copenhagen and First North as well as international and Danish investment banks. 

In addition, we advise a wide range of Danish and non-Danish private equity funds and venture funds on the execution of investments, acquisition, purchase and exits. We are experts in the AIFM regulation that subjects private equity and venture funds to strict regulatory requirements.

Our advisory services include:

  • Offering of securities, including stock exchange listing, IPO, private placement and secondary offering
  • Verification
  • Duties of disclosure
  • Securities trading and regulation
  • Takeover offers and de-listing
  • Bond issuance
  • Establishment of investment funds and managers
  • Establishment of UCITS funds, investment associations and mutual funds
  • Venture capital investment
  • Private equity transactions/buy-outs/ secondaries
  • Fund of funds and master feeder funds
  • Investment in investment funds
  • AIFM issues
  • Bonus and yield models, carried interest allocation agreements
  • Regulatory aspects
  • Tax issues relating to investment funds
  • Management structures.

We also advise on corporate governance, current duties of disclosure and special legislation concerning listed companies.

When required to ensure our clients the best advisory services, we cooperate with lawyers from our other areas of expertise such as M&A and Corporate Matters, Regulatory Issues, Insolvency & Restructuring, Tax.

 


Capital Markets

Capital Markets

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What the team is known for
Noted for its work on IPOs, securitisation and regulatory matters. Acts on behalf of corporates and financial institutions on compliance work, share buy-backs and public tender offers. VP Securities is among the latest client wins for this department.

 

Strengths
Clients praise the "high quality of work," adding that the team "knows the market and our business approach. The lawyers offer very good client service and are always available."

A further source recommends the group's "excellent service, timeliness and round-the-clock availability."

 

Work highlights
Guided Expedit on the DKK125 million public tender offer made by Wanzl for Expedit.

Advised 3i and Layout Bidco on their DKK1.5 billion public to private takeover of BoConcept.

 

Significant Clients
Danske Bank, UBS, Jyske Bank, BEC, Blackstone.

 

Notable practitioners
Steen Jensen advises clients on ECM transactions, including passporting and takeovers. He recently assisted Exiqon with its DKK1 billion public-to-private takeover by Oncotec.

David Moalem provides regulatory advice on capital markets-related matters. He assisted Lundbeck with the implementation of a new capital markets compliance set-up in light of the new EU Market Abuse Regulation. Clients say: "He gives very practical advice which we can easily implement and he provides very good service."

Chambers and Partners Europe, Capital Markets

Capital Markets

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Steen Jensen advises clients on ECM transactions, including passporting and takeovers. He recently assisted Exiqon with its DKK1 billion public-to-private takeover by Oncotec.

David Moalem provides regulatory advice on capital markets-related matters. He assisted Lundbeck with the implementation of a new capital markets compliance set-up in light of the new EU Market Abuse Regulation. Clients say: "He gives very practical advice which we can easily implement and he provides very good service."

Chambers and Partners Global, Capital Markets

Capital Markets

That deal was demonstrative of a general improvement in the capital markets in Denmark this year, which the team at Bech-Bruun was able to capitalise on. Other examples saw (Morten) Krogsgaard take the lead in acting for the PWT Group on the Danish law issues relating to PWT Holding’s placement of a kr300 million (€40 million) high-yield bond on the Nasdaq OMX Stockholm and in assisting SAS on the Danish aspects of its kr1.6 billion (€169 million) issuance of convertible bonds.

 

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“A very competent and always in-touch full service provider,” is the way one general counsel describes the capital markets practice.

Capital Markets

Bech-Bruun provides ‘very valuable advice’ as well as ‘excellent and professional service’. Practice head Morten Krogsgaard recently assisted DSV Miljø Group with a senior secured FRN bonds and the revolving facility agreement, while Steen Jensen advised Exiqon in a public to private takeover. David Moalem is praised for his ‘extremely quick answers’ and ‘business understanding’.

Legal 500, Capital markets

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