Slaughter and May is advising Watches of Switzerland Group and its principal shareholder (investment funds managed by an affiliate of Apollo Global Management) on the initial public offering of Watches of Switzerland.
Watches of Switzerland is the leading multi-channel luxury watch retailer in the UK and a leading retailer of luxury watches in selected regions of the US.
The offer price of 270 pence per ordinary share will give Watches of Switzerland a market capitalisation of approximately £647 million at the commencement of conditional dealings on the Main Market of the London Stock Exchange on 30 May 2019. Admission of the shares to the premium listing segment of the Official List is expected to occur on 4 June 2019, with unconditional dealings in the shares commencing on the same day.
The offer comprises the sale of a portion of ordinary shares held by certain existing shareholders and management plus a primary issue of new ordinary shares by Watches of Switzerland to raise gross proceeds of approximately £155 million.
Paul, Weiss, Rifkind, Wharton & Garrison LLP is advising on matters of US law.
Anders Jay / Trainee, Rebecca Bennane /Trainee, Ben Renshaw / Trainee, Calum Scott / Trainee, Gabriel Lim / Trainee, Jodi Haigh / Trainee, Natasha Molson / Trainee, Ryan Law / Trainee), Teddy Sasada / Trainee