London – LAWFUEL – The Law Business News Wire – Allen & Overy LLP has advised Marfin Investment Group Holding S.A. (MIG), the Greek investment company, on its EUR5.19 billion global share offering. The transaction represents the largest public capital raising by an investment company in history, the largest rights issue ever in Greece and the second largest equity offering in the world so far this year (after Sberbank).
Strong support from domestic and international investors allowed MIG to conclude the roadshow for the offering ahead of schedule. Shares are expected to begin trading on the Athens Stock Exchange on 19 July. The proceeds of the offering will be used by MIG to develop a portfolio of private equity-type leveraged investments in Greece and elsewhere in the South Eastern European region and other selected countries.
The Allen & Overy team was led by London-based equity capital markets partner Daniel Epstein, assisted by Ryan Barrow and Ben Haskey.
Commenting Daniel Epstein said: “This transaction demonstrates that not all permanent capital offerings are created equal. Plenty of these deals simply fail to attract any real investor interest. But where, as here, the right management team brings forward the right opportunity, the market clearly will sit up and take notice. MIG deserves real credit for the boldness and vision they have shown in structuring this offering, which is genuinely innovative and unconventional in any number of ways. The success they have achieved is phenomenal, and we are thrilled to have been part of it.”