Slaughter and May advised Hammerson plc on a placing of approximately 9.9% of its existing shares

Slaughter and May advised Hammerson plc on a placing of approximately 9.9% of its existing ordinary share capital to raise gross proceeds of approximately £138.5 million.
 
The proceeds of the placing will be used to part fund the proposed acquisition by Hammerson of the remaining 50% interest in the Bullring and Grand Central, Birmingham.
 
The placing, which was announced on 31 July, was conducted through an accelerated book-building process for institutional investors. Morgan Stanley and Co. International Plc acted as Global Co-ordinator and Financial Adviser, and Investec Bank Limited and Peel Hunt LLP, together with Morgan Stanley, acted as Joint Bookrunners.
 
The placing shares were placed with: (i) placees who are not South African qualifying investors (the “UK Placing Shares”); and (ii) placees who are South African qualifying investors (the “SA Placing Shares”). The UK Placing Shares were admitted to trading on the London Stock Exchange and Euronext Dublin on 5 August 2025. Subject to receipt of approval to inward list all of the placing shares from the Financial Surveillance Department of the South African Reserve Bank, applications will be made to admit the SA Placing Shares to trading on the London Stock Exchange and Euronext Dublin, and all of the placing shares on the Johannesburg Stock Exchange.

Slaughter and May has been working closely with Hammerson’s General Counsel and Company Secretary, Alex Dunn and its Deputy Company Secretary, Richard Crowle.

Corporate

Jack Rooney / Trainee, Obaydh Khan / Trainee

Tax
Mike Lane Partner