Cross-border issuance on the rise

“We now have more Danish companies considering listing abroad, and foreign companies looking at Denmark as a listing venue, than ever before. The number of cases is still limited, but there are always one or two ongoing client projects that involve cross-border issuance and international set-ups,” says Rikke Schiøtt Petersen. She is head of the capital markets practice and partner at Gorrissen Federspiel, where she primarily deals with securities law, M&A, corporate law and corporate governance.

“In terms of cross-border issuance, we have a very good working relationship with VP Securities. They are a strong and knowledgeable partner when it comes to more complicated set-ups. This involves more than getting the technical connection from CSD to CSD right. I appreciate our informal discussion of both legal and technical issues, so that we can advise our clients on the best possible solution,” she says.

VP Securities has been part of solutions for both bonds and shares in cross-border set-ups crossing the Danish border in both directions. The philosophy is that the financial infrastructure should support the capital market and help companies to attract a transparent and effective flow of capital. As all securities are dematerialised, this is primarily a technological set-up, with a set of building blocks to be assembled according to the legal differences involved in cross-border securities trading.
Communication is key

The capital market practice at Gorrissen Federspiel is a well-reputed leading player in the Danish market and holds a strong record for demonstrated excellence. For decades, Gorrissen Federspiel has been a top securities practice representing issuers, underwriters and other market participants, as well as investors and management. In assisting Danish and foreign industrial and financial clients, Rikke Schiøtt Petersen appreciates the communication aspects of international set-ups, since international advisory teams, with banks, law firms and CSDs, need an understanding of Danish law and securities infrastructure.

Deep knowledge

Rikke Schiøtt Petersen has been a partner at Gorrissen Federspiel since 2006, and she has seen a wide variety of cross-border issuances involving both Danish and foreign companies, and including investor reach in many markets. Different national standards, different legislation and different technical capabilities can make cross-border issuance complex, and advice on the best way to achieve the client’s objectives may call for deep knowledge and a degree of creativity. VP has been a strong partner in cutting through the complexity, and for Gorrissen Federspiel this is all about helping clients to achieve their goals in the most cost-efficient way.

Gorrissen Federspiel has represented many leading underwriters and many Danish issuers and, during the past decade, the law firm has also been involved in significant equity and debt offerings and larger IPOs.