Global law firm White & Case LLP has advised UBS on the international component of the initial public offering (IPO) of Retailors Ltd., which closed on May 18, 2021.
"The ability of Israeli companies, such as Retailors, to access the international capital markets in connection with a public offering in Israel meaningfully broadens their access to capital," said White & Case partner Colin Diamond, Head of the Firm's Israel Practice. "This transaction adds to White & Case's strong track record advising on innovative corporate and capital markets transactions in Israel."
The IPO consisted of a public offering in Israel and listing on the Tel Aviv Stock Exchange, together with a global offering that included a Rule 144A component marketed in the United States. The IPO raised net proceeds of approximately US$164 million.
Retailors is a leading high-growth retailer in Israel, specializing in the sale of sports and leisure footwear, apparel and accessories, through a chain of stores in Israel, Canada and Europe under the brands Nike, Foot Locker and Dream Sport.
The IPO was only the fourth Israeli public offering listed in Tel Aviv and internationally marketed pursuant to Rule 144A.
The White & Case team which advised on the transaction was led by partner Monica Holden, counsel Doron Loewinger and associate Anna Soroka (all London), and included partner Chad McCormick (Houston), counsel Heidi Schmid (New York), associate Kyle Ezzadine (New York) and international attorney Yasmin Mansour (Düsseldorf).
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