Slaughter and May advised Ocado Group plc (Ocado) on a concurrent three-legged £1 billion capital raise (the Capital Raise) comprising a £650 million share placing to institutional investors, a £7 million share offer to retail investors via the PrimaryBid platform and a £350 million offer of convertible bonds to institutional investors.
The Capital Raise will raise total gross proceeds for Ocado of approximately £1,007 million and the net proceeds of the Capital Raise will provide Ocado with the financial flexibility to capitalise on opportunities arising from the significant acceleration in online adoption and grow faster over the medium term.
The Capital Raise launched on 10 June 2020 and its success was announced on 11 June 2020.
Corporate
Aleezeh Liaqat
Partner
Holly Mumford
Associate
Financing
Matthew Tobin
Partner
Claire Cooke
Partner
Tax
Gareth Miles
Partner
Charles Osborne
Partner