Richard Werner


Richard Werner
  1. People /

Richard Werner

Richard Werner

Partner


Richard Werner
  1. People /

Richard Werner

Richard Werner

Partner

Richard Werner

Partner

London

T: +44 (0) 20 3400 2329

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Biography

Richard is a corporate lawyer with a broad range of experience covering public and private M&A, equity capital markets, private equity, venture capital and all aspects of company law. Richard has particular experience in relation to listed investment companies and the real estate sector, but advises across a wide range of sectors and transaction types. Richard also has experience in relation to NFT and tokenisation transactions and more generally in relation to the crypto / blockchain space.

Admissions

  • England and Wales

Experience

  • Hadrian’s Wall Secured Investments Limited on their successful IPO and admission to trading on the premium segment of the London Stock Exchange. Trading in HWSIL’s shares became effective on 20 June 2016 and raised £80 million as part of the IPO;
  • Secure Income REIT Plc on a secondary placing of shares on behalf of the existing shareholders of the company. The transaction was treated as a “re-IPO” and incorporated a fully documented Rule 144A offering. The shares sold represented 61.4% of the issued share capital of the Company and the placing was oversubscribed, raising approximately £282 million for selling shareholders;
  • On a fundraising by Phoenix Spree Deutschland Limited raising £38 million by way of a firm placing and offer for subscription;
  • Liberum Capital Limited in its capacity as sponsor to Phoenix Spree Deutschland Limited on its admission to the Official List and to trading on the London Stock Exchange's Main Market;
  • Axiom European Financial Debt Fund Limited in connection with its launch and admission to the Specialist Fund Market of the London Stock Exchange. AEFDF raised £50.7 million as part of the IPO;
  • GCP Infrastructure Investments Limited on the creation of a placing programme of up to 150 million ordinary shares;
  • Cenkos Securities as broker and nominated adviser to Malaysian data centre services provider CSF Group on its flotation on AIM and the related £28 million fundraising;
  • Liberum Capital Limited in its capacity as nominated adviser and broker in connection with the flotation of Squarestone Brasil Limited on AIM and the related fundraising of approximately £28 million;
  • Secure Income REIT plc on the acquisition of two substantial portfolios of assets at a total cost of £436 million;
  • Patron Capital Partners in acquiring the 71% stake in AIM-listed Powerleague Group plc, an operator of indoor and outdoor football centres across the UK, that it did not already own. The transaction valued the issued share capital of Powerleague at approximately £42.5 million; and
  • Black Sea Global Properties Limited on its subscription for newly issued shares representing9% of the enlarged issued share capital of Deutsche Land plc, at an aggregate subscription price of approximately £11.4 million.

Related Insights

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Jun 17, 2024

London: The Optimum IPO Venue for Israeli Growth Companies

For the vast majority of Israeli and Israel-related companies considering an IPO, London should continue to be the venue of choice. London has greater access to capital and liquidity than the Tel Aviv Stock Exchange and lower barriers to entry than US markets, as well as greater opportunities for index inclusion. The common narrative in the media that valuations in US capital markets are superior does not fully reflect the reality. While some of the largest and most successful companies have achieved attractive valuations in the US[1], a US IPO is realistic only for the very largest Israeli private companies. Furthermore, for the vast majority that have chosen this route in recent years, post-IPO share price performance has been extremely disappointing. Whilst the geopolitical situation for Israeli and Israel-related companies is currently challenging, we expect that, once the situation stabilises, there will be increasing interest from those companies about listing in London, particularly as the UK’s forthcoming “once in a generation” capital markets regulatory reforms take effect.
Insights
18 January 2024

London: an attractive IPO venue for US mid-caps

While the British media is currently focussed on a small number of large-cap companies, formerly listed in London, choosing to move their listings to New York, there is another story which is not so well publicised. Many small and mid-cap US companies have been attracted to UK markets and have carried out successful IPOs in London. Since 2017, 91 companies from the Americas have joined the LSE, compared to only 23 companies going the other way. US businesses have particularly been drawn to AIM, LSE’s growth market, which is a well-established and highly-respected market for growth companies.
Insights
May 30, 2023

Public takeovers in the UK real estate sector

BCLP has analysed all of the completed and ongoing public takeover transactions in the UK real estate sector since the beginning of 2019.[1]Deal activity during that period has been consistently strong, with 15 completed transactions and three currently ongoing.[2] Our analysis has identified two principal categories into which these transactions fall.
Insights
2 March 2023

Judicial review against the FCA in Ithaca Energy case

ClientEarth has launched a judicial review against the FCA for approving a prospectus which ClientEarth claims contained inadequate climate-related disclosures. This is part of an increased use by environmental pressure groups of judicial channels to challenge companies - and now regulators - and to promote the transition to Net Zero. The courts of England and Wales have shown that they are willing to hear cases of this type and this trend is likely to continue.

Related Insights

News
Oct 31, 2024
Article on Public M&A in the real estate sector featured in PLC Magazine
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Sep 26, 2024
Article on Secondary Listings in the UK featured in PLC Magazine
Insights
Jun 17, 2024
London: The Optimum IPO Venue for Israeli Growth Companies
For the vast majority of Israeli and Israel-related companies considering an IPO, London should continue to be the venue of choice. London has greater access to capital and liquidity than the Tel Aviv Stock Exchange and lower barriers to entry than US markets, as well as greater opportunities for index inclusion. The common narrative in the media that valuations in US capital markets are superior does not fully reflect the reality. While some of the largest and most successful companies have achieved attractive valuations in the US[1], a US IPO is realistic only for the very largest Israeli private companies. Furthermore, for the vast majority that have chosen this route in recent years, post-IPO share price performance has been extremely disappointing. Whilst the geopolitical situation for Israeli and Israel-related companies is currently challenging, we expect that, once the situation stabilises, there will be increasing interest from those companies about listing in London, particularly as the UK’s forthcoming “once in a generation” capital markets regulatory reforms take effect.
Insights
18 January 2024
London: an attractive IPO venue for US mid-caps
While the British media is currently focussed on a small number of large-cap companies, formerly listed in London, choosing to move their listings to New York, there is another story which is not so well publicised. Many small and mid-cap US companies have been attracted to UK markets and have carried out successful IPOs in London. Since 2017, 91 companies from the Americas have joined the LSE, compared to only 23 companies going the other way. US businesses have particularly been drawn to AIM, LSE’s growth market, which is a well-established and highly-respected market for growth companies.
News
11 January 2024
BCLP is advising LXi REIT on a £6.2 billion merger with LondonMetric Property to create the UK’s fourth largest REIT
News
Sep 04, 2023
BCLP advises Axiom European Financial Debt Fund on reconstruction scheme
News
Jun 22, 2023
Free legal assistance is at hand to help those affected by the Windrush scandal apply for compensation
Insights
May 30, 2023
Public takeovers in the UK real estate sector
BCLP has analysed all of the completed and ongoing public takeover transactions in the UK real estate sector since the beginning of 2019.[1]Deal activity during that period has been consistently strong, with 15 completed transactions and three currently ongoing.[2] Our analysis has identified two principal categories into which these transactions fall.
Insights
2 March 2023
Judicial review against the FCA in Ithaca Energy case
ClientEarth has launched a judicial review against the FCA for approving a prospectus which ClientEarth claims contained inadequate climate-related disclosures. This is part of an increased use by environmental pressure groups of judicial channels to challenge companies - and now regulators - and to promote the transition to Net Zero. The courts of England and Wales have shown that they are willing to hear cases of this type and this trend is likely to continue.