09 February 2012
Carey Olsen advises on NYSE listings first
Carey Olsen has advised Delphi Automotive PLC (Delphi) on its initial public offering (IPO) on the New York Stock Exchange (NYSE). Delphi is the first Jersey company to have its shares directly listed on the NYSE. Shares in Delphi began trading on the NYSE on 17 November 2011 and the IPO, which was entirely a secondary offering by existing shareholders, raised US$530 million.
Delphi is a leading global vehicle components manufacturer and provides electrical and electronic, powertrain, safety and thermal technology solutions to the global automotive and commercial vehicle markets.
Carey Olsen Group partner, Alan Stevens, led the team that advised Delphi, supported by senior associate David Allen.
Mr Stevens said: “Jersey has an excellent reputation for companies looking to incorporate listing vehicles and this landmark listing reinforces the island’s position as a leading jurisdiction. We continue to see significant listing activity across a variety of other markets, including the Hong Kong Stock Exchange, the Channel Islands Stock Exchange and Euronext. At the same time, Jersey companies continue to be a popular choice for clients looking to list on the London Stock Exchange and AIM.”