Ashurst became the latest firm to win IPO work this month, as it became IT infrastructure provider Softcat’s first chief City legal adviser.
The company has tended to turn to regional firms in the past, but chose Ashurst to represent it on its intention to float on the London Stock Exchange (LSE) as it needed to appoint a main City firm to handle IPO work.
Ashurst’s equity capital markets head Nicholas Holmes told The Lawyer “an increasing number of issuers are doing their own research on which law firms to use,” citing Ashurst’s experience on the flotations of Merlin Entertainments and Kennedy Wilson as good examples of previous work.
Allen & Overy meanwhile advised the underwriters on the deal, after acting on a number of issuer mandates in the last month.
Softcat’s admission to the main market of the LSE is due to take place in November.
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