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UK
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16 June 2005
Travers And Nabarros Scoop
£512m Empire Online Float
Travers
Smith has scooped a lucrative role opposite Nabarro
Nathanson advising long-term client Numis Securities, the
underwriters to Empire Online, on the internet-based
gambling company’s £512m floatation on
AIM.
The float, which took
place yesterday (15 June), sees Empire become the seventh
largest AIM-listed company by market capitalisation behind
the likes of market rival SportingBet,
which is currently valued at £934m.
Both City firms have been
key advisers to Numis for several years, with Nabarros
winning the instruction from new client Empire in March
after a referral from the investment bank.
Empire, which is based in
Cyprus but registered in the British Virgin Islands,
provides marketing for the online gambling industry,
directing new players to poker and casino websites like
Party
Poker and
888.
The company operates in
various jurisdictions including the US, UK and
Scandinavia.
Travers’ head of
corporate finance Spencer Summerfield led the team with
support from partner designate Alasdair Steele.
Corporate finance partner
Warren Taylor led on the float for Nabarros with assistance
from corporate partner Iain Newman and corporate assistants
Richard Bevan and Sam Quinn.
Jacqueline Daley, a
corporate associate at British Virgins Island practice
Harney Westwood & Riegels, advised on offshore aspects
while Cynthia LaRose, a corporate partner at US firm Mintz
Levin Cohn Ferris Glovsky and Popeo, advised on US aspects
of the deal.
PartyGaming, the
world’s largest online poker company, unveiled its own
£5bn IPO earlier this month as evidence mounts of the
investment explosion in the internet gaming industry in
recent years.
Both Travers and
Nabarro’s also scored lead roles on the £120m
float earlier this month of FireOne, an internet gaming
payment processing company.
Related pages:
UK
Poker Firm Set For Listing
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