Conyers provided Cayman Islands legal advice to the underwriters of dLocal Limited’s (dLocal) initial public offering on the Nasdaq exchange.
The underwriters were led by J.P. Morgan, Goldman Sachs, Citigroup and Morgan Stanley who are acting as global coordinators; and Bank of America, HSBC and UBS who are acting as joint bookrunners.
dLocal is a technology-first payments platform enabling global enterprise merchants to connect with billions of consumers in emerging markets. The IPO of dLocal has valued the company in excess of US$9.2 billion.
“This was a terrific transaction to be involved in and Conyers is delighted to have worked with the underwriters, and onshore counsel Simpson Thacher & Bartlett LLP, to support dLocal Limited on this significant milestone in its growth and development,” commented Matthew Stocker, Partner.
“Whilst capital markets transactions have been dominated by the SPAC phenomenon in the last 6-12 months, it’s positive to see that the market is still supportive of companies going public through the traditional IPO route,” added Alex Davies, Counsel.
Partner Matthew Stocker, Counsel Alex Davies and Associate Kiah Estwick of Conyers’ Cayman office advised on the Cayman Islands legal and regulatory aspects of the transaction working alongside Simpson Thacher & Bartlett LLP as lead legal advisor to the underwriters.