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
Strong finance team acting on behalf of domestic and international banks, private equity houses and large corporations on all aspects of acquisition finance. Recognised for its financing expertise in the energy and real estate sectors. Also instructed on refinancing mandates. Has experience in debt capital markets transactions, advising on the issuance of notes and high-yield bonds.

Strengths
One client says the lawyers have a "lot of experience with complex financing agreements," adding that they are "very consistent" and "always deliver."
 
Another client enjoys the "high accessibility" of the lawyers, who "advise with a high degree of business understanding."
 
Work highlights
One client says the lawyers have a "lot of experience with complex financing agreements," adding that they are "very consistent" and "always deliver."
 
Notable practitioners
David Moalem is highly regarded for his expertise in securities law and financial regulation. He has particular experience in fintech matters. One client describes him as "probably the best lawyer in the Danish financial regulatory market."
 
Morten Krogsgaard handles a range of loans and facility agreements, including bridge facilities. He also has experience in the issuance of notes and bonds. He is particularly active on leveraged and acquisition finance mandates. One source notes that he is "very knowledgeable within the financing world and always has a good understanding of the market."
 
Thomas Thordal Sevelsted advises on acquisition and real estate finance, as well as asset finance in the shipping and aviation sectors. One client says he is "good at locating where the issues are and what needs to be focused on."
 
Chambers and Partners Europe, Banking and Finance

 

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

In the Danish market Bech-Bruun is recognised for its strong M&A and projects teams. It also boasts of a very credible banking and restructuring and insolvency offering. 

Despite the slowdown in the Danish capital markets area, the firm has strong expertise on the equity side and recently represented the underwriters in a large Nasdaq Copenhagen IPO. 

Recent Deal Data highlights 

  • Axcel acquisition of majority stake in Phase One
  • Energinet DKr1.8 billion acquisition of GasNet
  • Maersk Drilling Nasdaq Copenhagen IPO
  • Nord Stream 2
  • Teradyne €121 million acquisition of Mobile Industrial Roots
  • Total $7.45 billion acquisition of Maersk Oil & Gas
  • Total acquisition of Chevron’s 12% interest in Danish Underground Consortium
  • Vineyard 800MW wind farm

Client feedback

"The team is always prompt and on point with an answer when we need it." – Capital markets: Debt

"Were well disciplined when it comes to keeping deadlines." – Capital markets: Debt 

Capital Markets

Ranked: Tier 2

Bech-Bruun handles major ECM transactions as well as complex regulatory issues. The team also has strong cross-border capabilities, with practice head Morten Krogsgaard specialising in international finance law. The group has particular expertise in setting up new financial businesses and insurance brokers as well as handling the registration of branch offices for foreign stockbrokers and insurers. Other names to note are Steen Jensen, who is an expert in takeover bids and buyback programmes, and ‘top lawyer’ David Moalem.

"Bech-Bruun has been outstanding and performing exceptionally well, and to the utmost highest standard in regards to legal counselling in the Capital Markets area."

"The Team has been available 24/7, with a really quick response time, with the best and always correct counselling/legal advice. The team has been pleasant the whole way through, while also being really sharp and competent at their work."

Legal 500, Capital markets

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