Carey Olsen advises on JP Morgan IPO
Lawyers from Carey Olsen’s Guernsey corporate team have advised on the successful initial public offering of JP Morgan Core Real Assets Limited (JARA) and its admission to trading on the Main Market of the London Stock Exchange (LSE).
The Guernsey registered company’s initial placing raised GBP148.9 million, which is above the GBP100 million minimum needed to launch. This capital raise will see JARA primarily invest in global real estate, transport and infrastructure assets as well as global liquid real assets. JARA is now operating a placing program under which it is proposing to issue further shares, targeting up to one billion shares in total.
Working alongside onshore counsel Herbert Smith Freehills LLP, the Carey Olsen team advising on Guernsey aspects of the establishment, regulation and admission of JARA was led by partner Tony Lane and assisted by associate Jamie Oldfield.
Lane says: Tony said: "2019 has been an incredibly tough year for listed fund launches, and JARA is only the fifth fund (onshore or offshore) to launch on the LSE this year. As a result, we are delighted to have been involved in bringing JARA to market. The successful listing in difficult market conditions is another endorsement for Guernsey as the jurisdiction of choice for non-UK companies looking to list on the London Stock Exchange."