Lawyers from Carey Olsen's corporate team have advised international specialist insurer Hiscox on its non-pre-emptive placing of new ordinary shares on the London Stock Exchange.
In conjunction with the placing, certain directors and senior management subscribed for new ordinary shares and together with the placing raised gross proceeds of approximately £375 million.
Working alongside onshore counsel Allen & Overy, the cross-jurisdictional Carey Olsen team was led in Bermuda by partner Mary Ward, assisted by associate Michelle Falcucci and in Jersey by partner Simon Marks, assisted by senior associate Ashley Morrison.
Ms Ward said: "Working together with our colleagues in Carey Olsen's Jersey office, we were delighted to assist Hiscox and Allen & Overy with this important transaction which, once again, underlines the attractiveness of using cash box placings to access alternative sources of funding on an expedited basis."
Pictured: Mary Ward of Carey Olsen Bermuda.
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