Freshfields advises the underwriting banks on the £189m placing of new ordinary shares in Hammerson plc
Freshfields advised Morgan Stanley & Co. International plc and Peel Hunt LLP, as joint global co-ordinators, and Investec Bank Limited, as sole South African bookrunner and placing agent, on the placement of 52.1 million ordinary shares in Hammerson plc (Hammerson), expected to raise approximately £189 million. The placing was conducted concurrently with an offer to retail investors and subscriptions by certain directors of the company.
The capital raised will be used to part fund Hammerson’s acquisition of a 50% interest in Manchester Arndale for a headline price of £218 million.
Hammerson, a major British property development and investment company, is listed on the London Stock Exchange, Euronext Dublin and the Johannesburg Stock Exchange. The placement involves the allotment of placing shares to placees on both the London Stock Exchange and the Johannesburg Stock Exchange.
The Freshfields team was led by partner Egor Marisin and senior associate Alexander Shoferpoor, alongside associate Caitlin Turner. Additional support was provided by partner Tom Godwin. Tax advice was provided by counsel Rose Swaffield and associate John Healy. US law advice was provided by counsel Ethan Magid and associate Sophie Desch.
The transaction represents the third largest equity raise on the London Stock Exchange’s main market since Q4 of 2025, alongside SSE plc’s £2bn equity raise in November 2025 and United Utilities plc’s £800m equity raise in April 2026. Freshfields is the only law firm to have advised on all three of these transactions.
