Dmitry Lapshin | White & Case LLP International Law Firm, Global Law Practice
Dmitry Lapshin
Dmitry Lapshin

Dmitry Lapshin

Local Partner, Moscow

T +7 495 787 3024 / +7 495 787 3000

E dlapshin@whitecase.com

Overview

Dmitry advises clients on issues relating to equity and debt capital markets transactions. Clients also benefit from his knowledge and experience in corporate law, banking and securities regulations.

Undaunted by scale or complexity, Dmitry has taken a leading role in a number of ground-breaking market firsts. Recent examples include multiple share offerings in the charter capital of Moscow Exchange, which was the largest ever initial domestic share offering in Russia and the largest ever securities exchange IPO. In 2013, Dmitry also co-led the team which acted as the underwriters' counsel in the initial public offering of ALROSA, Russia's largest privatisation since 2006.

Dmitry regularly works with the Firm's offices across the globe, to steer clients through complex, cross-border deals. In 2010, he was part of the international team which advised on the first ever Russian real estate listing on the London Stock Exchange.

Ranked as a leading capital markets lawyer by Chambers Global, Chambers Europe and Best Lawyers/Vedomosti 2014, Dmitry is a member of the Primary Markets (IPO) Committee of the Moscow Exchange and actively participates in regulatory developments within the Russian financial market.

Bars and Courts

  • Qualified to practice law in the Russian Federation

Education

  • Degree in Jurisprudence, Moscow State University

Languages

  • English
  • Russian

Experience

US$469 million follow-on offering by the Central Bank of Russia

Dmitry co-led the team which represented the joint global coordinators and joint bookrunners, in the US$469 million follow-on offering by the Central Bank of Russia of shares in the charter capital of Moscow Exchange. This was the first domestic offering by a Russian issuer in 2014. In 2013 Dmitry represented the joint global coordinators and joint bookrunners in the RUB 15 billion (US$500 million) share offering in the charter capital of Moscow Exchange. At the time, this was the largest initial domestic share offering in Russia, and the largest securities exchange IPO.

Qatar Holding on Investment into VTB

Dmitry represented Qatar Holding LLC in its US$500 million equity investment in JSC VTB Bank (VTB), through Qatar Holding's participation in VTB's secondary public offering. The transaction was Qatar Holding's first investment into Russia, and was a direct result of the Russian Government's stated policy of seeking to privatize a number of key state entities. The offering led to a dilution of the Russian Government's ownership stake from 75.5 percent to 60.93 percent.

Ground-breaking Russian Regulatory Capital Transaction

Dmitry acted on the first Tier II subordinated bond issue by a Russian bank, following the introduction of the Central Bank of Russia's latest rules on subordinated capital, which adopted the Basel III requirements.

US$500 million Eurobond issuance

Dmitry acted for HSBC, Raiffeisen Bank International and the Royal Bank of Scotland, as lead managers, and for HSBC as sole structuring adviser, in the issuance of US$500 million 5.5 years subordinated Tier II Eurobonds for Credit Bank of Moscow (CBoM).

US$1.3 billion offering of shares of ALROSA

Dmitry co-led the team which acted as the underwriters' counsel in the initial public offering of ALROSA, the world's largest diamond company, which was listed on the Moscow Stock Exchange. The deal was Russia's largest privatization transaction since 2006, the largest public offering of local shares in Russia and one of the largest resource sector offerings in recent years. The offering represented a transaction value of RUB41.3 billion roubles (US$1.3 billion).

US$287 million follow-on offering of Class B shares

Dmitry represented the underwriters in the US$287 million follow-on offering of Class B shares of QIWI in the form of American Depositary Shares (ADS). QIWI is a leading provider of next-generation payment services in Russia and the CIS.

Initial public offering of MegaFon shares

Dmitry represented TeliaSonera as selling shareholder in the initial public offering of MegaFon shares in the form of shares and GDRs, which raised US$1.7 billion. This IPO was the largest capital raising by a telecommunications company in London since 2001.

PIK Group US$275 second public offering

Dmitry represented the joint global coordinators and joint bookrunners in the US$275 million secondary public offering (through an accelerated bookbuilding process) of shares of PIK Group, one of Russia's leading residential real estate developers.

TMK's US$1.1 billion IPO of ordinary shares and GDRs

Dmitry represented TMK, one of the world's largest manufacturers of steel pipes, in its US$1.1 billion IPO of ordinary shares and GDRs, including a listing of its GDRs on the London Stock Exchange and a listing of its ordinary shares on the RTS market.

IPO of shares of Promsvyazbank

Dmitry advised the joint global coordinators and joint bookrunners (HSBC Bank, J.P. Morgan Securities and Renaissance Securities) on the initial public offering of shares of Promsvyazbank on the MICEX Stock Exchange and GDRs on the London Stock Exchange.

Awards & Recognition

Leading Lawyer: Capital Markets – Russia, Chambers Europe 2014, Global 2014, Best Lawyers / Vedomosti 2014

Chambers Global 2014

'Dmitry Lapshin offers in-depth knowledge of Russian law and regulations. Clients say that he is a "strong, thoughtful lawyer who is reliable and pleasant to work with."'