Ogier in Guernsey has advised Burford Capital Limited on its dual listing on the New York Stock Exchange, adding to its existing listing on AIM, such that it is the first legal finance firm to be publicly traded in the United States and the first dual-listed company in the legal finance industry.
Bryon Rees said: "Burford is the leader in its field and we congratulate them on this success. Ogier has a longstanding relationship with Burford, advising the team since its establishment in 2009, including on its initial listing on AIM and other milestones - so we are especially pleased to see Burford achieve this next milestone, which we are sure is one of many to come. Apart from Burford becoming the first publicly traded legal finance firm in the United States and the first dual-listed company in the legal finance industry we understand this is also the first Guernsey company with this particular dual listing."
The Ogier team was led by Partner Bryon Rees and Senior Associate Charlotte Brown, working with lead English counsel Freshfields Bruckhaus Deringer LLP, lead United States counsel Cravath, Swaine and Moore LLP and Computershare.
Christopher Bogart, CEO of Burford, commented: “This is a proud moment for me, Burford’s co-founder Jonathan Molot, and indeed for the whole Burford team. Our NYSE listing exemplifies our culture of excellence, innovation and providing solutions to clients as the leading global finance and asset management firm focused on law. We are, once again, at the forefront of our sector, and our listing is evidence that legal finance is a sophisticated tool that plays an important role in the legal landscape. Our new listing will increase the pool of investors able to invest in Burford’s shares while more broadly raising our profile in the US capital markets, which may in time lower our cost of capital. For our clients, this listing gives them further proof that working with us means partnering with a gold standard finance firm that is open and transparent about its operations.”
Burford is the leading global finance and asset management firm focused on law. Its businesses include litigation finance and risk management, asset recovery and a wide range of legal finance and advisory activities. Burford works with law firms and clients around the world from its principal offices in New York, London, Chicago, Washington, Singapore and Sydney.