A&O Shearman is lauded for its ‘excellent industry knowledge and experts in their field’, with its enhanced ECM practice combining UK, U.S. and international expertise to advise on complex IPOs, secondary offerings and equity-linked structures. The London team continues to lead on high-profile mandates, including listings for Raspberry Pi in London and OQ in Muscat. Adam Wells heads the team and brings over two decades of experience advising issuers and underwriters across Europe and the Middle East. James Roe offers strategic guidance on governance, sustainability and compliance matters, while Michael Bloch frequently acts on growth company transactions. Jeff Hendrickson advises on the U.S. law aspects of global ECM matters, and Maegen Morrison also comes recommended.

 

Clifford Chance LLP’s dedicated UK ECM team advises corporates, banks, and private capital clients on the full spectrum of equity offerings, including IPOs, rights issues, and secondary placements. With integrated US securities expertise and a strong cross-border capability, the team supports complex, high-value transactions across all sectors and listing venues in EMEA. Team head Simon Thomas had a strong 2024, advising on global ECM transactions, including Pfizer’s sale of Haleon plc shares and Zabka Group’s IPO in Warsaw. Adrian Cartwright’s eminent reputation continues to generate a high volume of work for the firm, while Christopher Roe remains active on IPOs, rights issues, and other secondary capital raisings. Johannes Juette is highly experienced in advising on transactions in APAC, and Drew Rundus continues to grow his US securities practice. James Koessler is also noted as key.

A firm that focuses ‘on excellence and exceptional client service’, Cravath, Swaine & Moore LLP advises on a wide range of offerings, including IPOs, equity-linked issuances, privatizations, and asset-backed securities, both in Europe and the US. Group lead Philip Boeckman is a key advisor to a strong roster of corporate and investment bank clients and handles the full spectrum of ECM transactions, including US Securities work. Co-head George Stephanakis is highly active on IPOs and secondary equity offerings. Joji Ozawa joined the firm from Milbank in January 2025.

Praised for its ‘deep legal expertise combined with a very pragmatic approach’, Freshfields maintains a leading role in complex equity capital markets transactions across the UK and Europe. The firm is a trusted adviser to both issuers and underwriters on major IPOs, rights issues, and secondary offerings, with a standout track record on transatlantic deals. Its London-based team is particularly well known for advising European corporates on listings in the US. Helming the practice is Chris Mort, who has recently led the team on high-profile mandates, including the IPO of CVC Capital Partners plc on Euronext Amsterdam. Julian Makin has extensive experience acting on secondary offerings from both sponsor and underwriter perspectives. Doug Smith is a cross-border specialist with expertise in handling the US aspects of ECM transactions, while David Boles, who joined the firm in May 2024, is widely lauded as ‘one of the clear market leaders among US ECM lawyers in Europe’. Tom Godwin focuses on public and private capital markets, skillfully advising issuers, shareholders, and underwriters on international equity deals. Richard Ho, Ethan Magid, Jennifer Brokamp and Egor Marisin also come recommended.

Praised as ‘knowledgeable, experienced and responsive to clients’ needs‘ Latham & Watkins advises on the full range of capital markets transactions, from IPOs to secondary offerings, across UK and global exchanges. Known for handling complex mandates for corporates and banks, the team combines deep English and US law capabilities to support clients on strategic, cross-border equity raisings. James Inness and Mark Austin co-lead the team, with the former noted for his strong track record on IPOs in the London market, and the latter for his expertise in public and private securities offerings and M&A. Anna Ngo combines transactional experience with corporate governance and compliance expertise. Ryan Benedict is frequently active on US-related mandates and has an impressive portfolio in the life sciences and tech sectors. Jennifer M. Gascoyne and Koushik Prasad are also highly rated.

Linklaters LLP advises corporates, sponsors, governments, and banks on the full suite of equity capital markets transactions, spanning IPOs, rights issues, private placements, and cross-border listings. With integrated US and UK law capabilities and strong regulatory expertise, the team also supports clients on sponsor obligations, governance, and equity financing strategy across major global exchanges. Team lead Pam Shores assists companies, sponsors and investment banks on highly complex and transformative deals. Co-head James Wootton acts on IPOs, secondary offerings and M&A, and is known for his longstanding relationships with major multinational clients and investment banks. Co-head Tom Thorne draws on his previous in-house experience in Morgan Stanley’s capital markets execution team to comprehensively advise underwriter clients. Over the past two years, Jason Manketo has advised on a variety of substantial IPOs across Europe and the Middle East, while Mike Bienenfeld spearheads the firm’s SEC compliance offering. Asad Ahmed also comes recommended. Richard Spedding joined from Travers Smith LLP in September 2024.

Milbank’s equity capital markets team advises corporates, sponsors, and underwriters on IPOs, follow-ons, and private placements across European and global markets. The group combines UK and US securities law capabilities and is active across a range of sectors, including financial services, infrastructure, and energy, with growing strength in Nordic and southern European transactions. Spearheading the firm’s ECM practice is David Dixter, who assists a strong roster of corporates, sponsors, and financial institutions across the full spectrum of equity capital markets transactions. Apostolos Gkoutzinis brings expertise in both US and EU securities matters and is particularly active in the Greek market, while Philipp Klöckner focuses on public takeovers. Alexia Pimbli also comes recommended.

Ashurst is a leading advisor on domestic and international equity capital markets transactions, including IPOs, rights issues, direct listings, and private placements. The team’s strong relationships with investment banks and issuers underpin its ability to handle complex, high-profile deals across the UK and Europe. The firm also plays an active role in shaping regulatory developments affecting the capital markets ecosystem. Team lead Simon Bullock is highly active in the London market and praised for his ‘incredible attention to detail coupled with an understanding of commercial realities’. Stuart Rubin brings over 25 years of experience advising leading investment banks and corporates on complex private offerings, while renowned ECM lawyer Nicholas Holmes contributes to both client transactions and evolving regulatory developments. Jeffrey Johnson is the group’s go-to for US securities expertise, with Louise Chan and Louise Johnson providing wide-ranging support.

 

Baker McKenzie LLP advises both issuers and underwriters on cross-border ECM transactions across EMEA, with its London office playing a lead role on English and U.S. law aspects. The team remains active on IPOs, ABBs and buybacks, particularly in the Middle East, CEE and Scandinavia, and is well placed to support healthcare and MedTech clients on capital markets activity. Department head Adam Farlow has recently led on a range of international mandates, including IPOs on Nasdaq Stockholm, the Hong Kong Stock Exchange, and Tadawul. Megan Schellinger offers deep expertise in US securities law and transaction management, while George Marshall advises on a broad spectrum of equity offerings and M&A, with a focus on the Middle East and financial institutions. James Thompson is particularly noted for his public M&A capabilities, and Charles Farnsworth adds further strength in US securities matters. Tom Quincey is also highlighted.

Herbert Smith Freehills Kramer LLP maintains a prominent position in the London equity capital markets landscape, frequently advising listed corporates, investment banks, and sponsors on a wide range of transactions. The team is active on IPOs, rights issues, placings, buybacks, and other secondary offerings, with experience spanning both the Main Market and international exchanges. Showcasing this global expertise is group lead Tom O’Neill, who has been highly active in markets such as Paris, New York, Hong Kong, and Singapore. Co-head Michael Jacobs specialises in venture capital and growth capital transactions, while Mike Flockhart handles both primary and secondary offerings as well as cross-border M&A. The US-qualified Dinesh Banani is valued by clients for his ability to manage the US aspects of cross-border transactions. Sarah Ries-Coward and James Palmer also come recommended.

Norton Rose Fulbright advises on a broad mix of equity transactions, regularly acting for both issuers and underwriters. The team is well regarded for its work on sponsor-led mandates, public M&A-related capital raisings, and complex cross-border offerings, with particular expertise in the real estate, technology, and emerging markets sectors. Team head Raj Karia is a key contact for both corporates and investment banks executing high-value ECM deals, particularly international securities transactions. Thomas Vita spearheads the firm’s US corporate finance offering, and Fiona Millington is noted for her strength in public takeovers. Richard Sheen focuses his practice on the Main Market, AIM, and investment fund IPOs. Clementine Hogarth and Alexander Green also come recommended.

Slaughter and May advises a broad base of FTSE and mid-cap clients on equity capital markets transactions, with a strong emphasis on issuer-side mandates. The team is actively involved in shaping UK market reforms and listing rule changes, and continues to support candidates through tailored guidance on IPO. Team head Richard Smith regularly advises listed companies, investment banks, and asset managers on intricate ECM transactions, public M&A deals, and regulatory compliance matters. Sally Wokes is active on rights issues, placings and other secondary raisings, while Christian Boney is noted for his strength in M&A and public takeovers. Simon Tysoe also comes recommended. John Papanichola retired in 2024.

Davis Polk & Wardwell LLP regularly advises issuers, underwriters, and investors on significant equity capital markets transactions across Europe. Its expertise spans IPOs, secondary offerings, and capital increases, supported by a strong cross-disciplinary approach that includes tax, regulatory, and executive compensation advice for complex, multinational deals. Team head Reuven Young is a key name for public and private equity offerings across EMEA. Leo Borchardt is chiefly recognised for his expertise in M&A, with sector engagement spanning tech, life sciences, and financial services, while Simon Witty continues to helm complex ECM transactions across Europe. Connie Milonakis is sought after for her experience handling complex cross-border IPOs. Dan Hirschovits left the firm in August 2024.

Dentons’ ECM team handles IPOs, secondary offerings, and equity-related M&A, primarily advising issuers, sponsors, and underwriters. The division focuses on cross-border deals across the Baltics, Central Asia, and Europe, combining local knowledge with London-based US securities expertise to support complex listings and multi-jurisdictional capital market transactions. Team head Nikolas Colbridge maintains a strong focus on emerging markets and advises across the full spectrum of ECM transactions. Cameron Half, who leads the US securities law team, is praised as a ‘top-notch professional’, while Rachael del Riccio acts for a broad range of public company clients on M&A and fundraising matters. Fiona Hollingdale, Anna Clark, and Pichrotanak Bunthan all provide key support across the practice.

Gibson, Dunn & Crutcher advises on a broad range of equity capital markets transactions across the UK, U.S., and Middle East, including IPOs, secondary fundraisings, and SPAC listings. The team is especially active in the technology, life sciences, and energy sectors, and offers integrated UK and U.S. securities law expertise from its London base. The team is led by Chris Haynes and Steve Thierbach, who ‘are renowned experts in their field and always guaranteed to provide a first-class service’. The pair are highly active on IPOs, rights issues, and both public and private M&A. Thomas Barker and Sarah Leiper-Jennings are also recommended for their broad support across the full range of mandates.

 

Skadden, Arps, Slate, Meagher & Flom (UK) LLP ‘consistently delivers pragmatic, commercially astute advice‘ to a strong roster of corporates, financial sponsors, and investment banks, acting on the full range of equity and equity-linked transactions, including IPOs, secondary offerings, and private capital raisings. The team offers integrated UK and US law capabilities from London and is particularly active on innovative equity structures and transatlantic listings across key European and US markets. Helming the practice is Danny Tricot who focuses on cross-border M&A and international equity offerings, combining deep experience across Europe and emerging markets. Maria Protopapa is well placed to advise on high-profile IPOs. Kenneth Ryan joined from Linklaters in August 2024.

CMS advises corporates, founders, and financial advisers on a wide range of ECM transactions, including IPOs, secondary offerings and public takeovers across UK and international markets. Team head Alasdair Steele acts for a wide variety of domestic and overseas corporates on ECM transactions, including large-scale IPOs. James Parkes is a go-to in the practice for complex public and private M&A. Jack Shepherd also comes recommended for his M&A expertise.

Specialising in cross-border equity transactions, Cooley (UK) LLP has built a strong track record advising on IPOs, follow-on offerings and private placements across major US and European exchanges. The firm is particularly active on mandates for high-growth, founder-led and life sciences businesses targeting US listings. Team head Claire Keast-Butler is valued by clients for her ability to handle London Main Market transactions as well as dual-listings in the US. Courtney Thorne is singled out for her experience in the life sciences sector and often advises foreign private issuers with mandates in the US.

Praised as a ‘very experienced and focused team‘, Fried, Frank, Harris, Shriver & Jacobson LLP advises on sophisticated equity transactions across the capital structure, with particular strength in transatlantic listings, asset manager-led IPOs, and continuation and investment vehicle structures. Ashar Qureshi leads the team from London and is noted for his experience handling IPOs, rights offerings, and restructurings across EMEA. John Satory is active in Northern Europe, frequently advising on M&A and corporate finance mandates, while Aseet Dalvi is recognised for his expertise in asset management-driven capital markets transactions. Brett Masters and Tiana Cherry provide broad support across the practice.

Greenberg Traurig, LLP’s London equity capital markets team delivers cross-border transactional advice across the UK, U.S. and European exchanges. With recognised strength in both UK and U.S. securities law, the team acts for a broad mix of corporate issuers and financial institutions, regularly advising on IPOs, uplistings, secondary issuances and public company matters. Andrew Caunt leads a practice that includes US Securities partner Dorothee Fischer-Appelt and James Mountain who acts on IPOs, secondary offerings and private placements. Charlotte Osborne also comes recommended.

Sullivan & Cromwell LLP delivers integrated UK, U.S. and EU equity capital markets advice, with deep cross-border capability across global exchanges. The team is well-versed in a broad range of equity structures and products, frequently acting for both issuers and underwriters. The team is led by four partners: John Horsfield-Bradbury, who manages a broad range of equity offerings; Vanessa Blackmore, recently active in the tech and manufacturing sectors; and Oderisio De Vito Piscicelli and Evan Simpson, both of whom advise a diverse portfolio of issuers.

Backed by an integrated UK and US offering, Travers Smith LLP advises on IPOs, secondary fundraisings, block trades and complex cross-border transactions. It acts for both issuers and investment banks across the ECM lifecycle, including regulatory compliance and governance issues, with a notable track record advising Main Market-listed companies and retained public company clients. Helming the practice is Adrian West who is a key name for IPOs and underpins his transactional expertise with astute regulatory and compliance knowledge. Andrew Gillen and Jon Reddington are experienced cross-border advisors who handle public and private M&A. Tom Coulter also comes recommended.

Willkie Farr & Gallagher (UK) LLP covers diverse equity financings, including SPACs, follow-on offerings, and structured transactions, with the ability to handle UK, US, and EU mandates and a strong focus on insurance and private equity clients. Team head Jennifer Tait’s practice spans both UK and US capital markets. Co-head Joseph Ferraro is well regarded for his expertise in the insurance sector, as well as overseas M&A, listings, and corporate finance mandates. David Griffiths adds further strength with a focus on public and private M&A and Europe-facing transactions.