Linklaters advises Nexi in its €2.0bn IPO, Europe’s largest IPO in 2019

Linklaters has advised Italian payment services firm Nexi SpA in its €2 billion (plus up to €302 million greenshoe) initial public offering, the biggest listing in Europe so far this year.

The admission to trading took place following an institutional placement that found a strong interest from the entire national and international financial community, as evidenced by its subscription that recorded a request at the offer price for a value of more than €5.4 billion from an audience of more than 340 leading international investors.

As part of the listing process, Linklaters acted as international counsel to Nexi, a company backed by the private equity funds Advent, Bain Capital and Clessidra.

Claudia Parzani, Capital Markets partner at Linklaters, says: “The payments sector is one of the fastest growing areas right now and over the next few years, we expect to see a continued trend in payment sector IPOs as well as global growth in M&A. This is driven by continued investment by financial sponsors, existing players acquiring new technology or seeking cross-border acquisitions to increase their geographical footprint and a drive to create regional champions.”

See here for the four key trends driving the payments industry.

The Linklaters team was led by Capital Markets partner Claudia Parzani and counsels Cheri De Luca and Ugo Orsini. The team also included associates David Adler, Francesco Eugenio Pasello, Francesca Cirillo, Marta Fusco and Matteo Pozzi.