Mandated by issuers, financial advisers, placement and underwriting syndicates and guarantors, Chiomenti handles IPOs, rights issues, public offerings of equity securities, private placements and tender and exchange offers. The group is co-led by Italo De Santis, an expert in capital increases, IPOs and public takeover bids and exchange offerings, and capital markets specialist Marco Maugeri. Other experienced practitioners are Manfredi Vianini Tolomei, an adviser on public offerings and stock listings, and financial markets practitioner Federico Amoroso. Maria Carmela Falcone and Matteo Costantino are also key figures.

Clifford Chance covers the whole range of equity capital markets products. The practice’s expertise ranges from IPOs, privatisations and rights issues, to block trades and exchangeable and convertible bonds. Filippo Emanuele co-heads the global financial markets practice; Enrico Giordano has longstanding experience in capital markets transactions; and Stefano Parrocchetti Piantanida and Laura Scaglioni are both experts in capital increases, block trades and IPOs. The ‘pragmatic’ practice further includes dual-qualified Italy and England and Wales equity capital markets specialist, Jonathan Astbury.

Gatti Pavesi Bianchi Ludovici is regularly involved in significant Italian takeover bids, IPOs, listings and securities placements. Anton Carlo Frau is a renowned specialist in public offerings and IPOs; Rossella Pappagallo has longstanding experience in securities deals; and Stefano Valerio advises on capital markets matters alongside his M&A and corporate law practice. Barbara Napolitano assists with IPOs, secondary offers, public tenders and takeover bids, and Vanessa Sobrero is ‘one of the best capital markets lawyers around’. Other key figures are Federica Munno, Federico Cenzi Venezze, Carlotta Corba Colombo and Maximiliano Papini.

Linklaters Studio Legale Associato‘s Milan team acts on numerous Euronext Milan IPOs. The practice is jointly led by the current Italian Stock Exchange chair, Claudia Parzani, who is a highly rated extraordinary deal specialist, and Ugo Orsini, an adviser to investment banks, financial institutions and corporations on significant equity and equity-linked transactions, as well as rights issues. The group also fields equity capital markets expert Francesco Eugenio Pasello, as well as Marta Fusco.

BonelliErede houses experts in IPOs, capital increases, public tender offers and stake-building processes. Heading the group, the ‘excellent’ Vittoria Giustiniani assists public and private companies with accessing capital markets through IPOs and capital increases. Providing key support, Silvia Romanelli‘s specialisms include takeover bids, share issuances and extraordinary transactions; while Gianfranco Veneziano is experienced in capital increases, IPOs, takeover bids and share issuances. Other names to note are Federico Vermicelli, whose wide-ranging practice encompasses equity capital markets, and Francesca Peruzzi, an adviser on public offerings, IPOs and capital increases.

Gianni & Origoni acts for issuers, selling shareholders and underwriters on significant public offerings of equity securities, along with rights issues and listing procedures. The group also advises listed companies on compliance requirements as well as extraordinary corporate transactions, such as share capital increases and financial instrument-related offerings. Co-led by Paolo Bordi and Emanuele Grippo, the team includes Alessandro Merenda, who ‘always provides valuable advice’, and Antonio Segni, who handles capital markets work alongside his corporate finance and M&A practice. Other key figures are Mariasole Conticelli, Andrea Bazuro and Giacomo Bizzozero.

Assisting clients with both Italian and US law, Latham & Watkins LLP‘s Italian capital markets team in Milan is consistently sought out to advise on high-profile transactions, including headline IPOs. Antonio Coletti acts for private and public companies, as well as private equity funds, underwriters, placing agents and initial purchasers, on a wide range of securities transactions; Jeffrey Lawlis‘ broad expertise encompasses equity capital markets offerings; and capital markets specialist Ryan Benedict divides his time between Milan and London. The practice also features Paolo Bernasconi, Guido Bartolomei and Giorgio Ignazzi.

The equity capital markets team at Legance - Avvocati Associati advises issuers, underwriters and investors on IPOs, right issues, listings, and offerings, including accelerated book buildings and private placements. The team also covers public tender offers and employee stock offerings. Giorgio Vanzanelli advises on IPOs, share capital increases, equity secondary offerings, convertible bonds issues, public tender offers, and corporate finance transactions; Marco Sagliocca‘s practice includes equity capital markets deals; and Alberta Figari is a specialist in takeovers, IPOs and rights issues. Also highly regarded is Stefano Bandini.

The result of a January 2024 merger between Pedersoli Studio Legale and Gattai, Minoli, Partners, PedersoliGattai advises on Italian IPOs, rights issues, accelerated bookbuilds, private placements, and tender offers. Marcello Magro has longstanding experience in IPOs; Carlo Montagna is an extraordinary finance transaction expert; Alessandro Capogrosso advises on IPOs, rights issues and private placements; and Nicola Brunetti ‘has huge experience’. The practice further includes IPO deal specialist Francesca Leverone and Elisabetta Bellini, an adviser on equity capital markets transactions. Federico Tallia, Filippo Emanuele Sani and Riccardo Monge are also experienced practitioners.

White & Case (Europe) LLP‘s capital markets group covers a range of equity capital markets instruments, including IPOs, rights issues, secondary offerings, and accelerated bookbuilds. It also advises on private investments in public equity and equity-linked products, including exchangeable and convertible bonds. Michael Immordino works across the firm’s Milan and London offices; Evgeny Scirtò Ostrovskiy routinely advises on high-profile capital markets deals; and Alessandro Picchi is experienced in follow-on equity offerings.

ADVANT Nctm‘s equity capital markets practice advises large corporations and SMEs on IPOs on the Italian main market. The team also assists with listing securities, public tender offers, capital increases, and issues of equity securities. Heading up the group, Lukas Plattner ‘has exceptional legal skills’, while Andrea Iovieno is an IPO specialist.

Acting for both listed and non-listed companies, Dentons covers private placements, IPOs, and the admission to trading of financial instruments on regulated markets and multilateral trading facilities. The team also assists with takeover bids, including liaising with the relevant authorities. Antonella Brambilla advises Italian and international clients on public offerings of financial instruments, stock exchange listings, takeover bids, and exchange offers, and Silvia Pacchiarotti assists with listed companies’ extraordinary transactions.

Particularly focused on cross-border transactions, DLA Piper‘s equity capital markets team acts for financial institutions and issuers on IPOs (including SPAC IPOs), rights issues, tender offers, secondary offerings, and convertible, equity-linked and hybrid instruments. With extensive experience in the equity capital markets sector, Francesco Maria Aleandri heads the group from Milan. Key support is provided by Stefano Montalbetti, whose experience encompasses IPOs, secondary offerings, listings, and public tender offers.

LCA Studio Legale’s equity capital markets practice covers Italian and international IPOs and secondary offerings on both regulated and unregulated markets, along with secondary listings and regulatory compliance advice. It also advises on dual listing processes. The group is co-led by IPO specialist Benedetto Lonato and Andrea Messuti, who ‘always provides a quick solution’. The team further includes Daniele Ferrone, who is particularly focused on equity capital markets transactions.

Bird & Bird‘s group comprises specialists in corporate governance, IPOs, public takeovers, rights issues, and secondary issues for publicly listed companies. The team is jointly led by Federico Valle, who has notable equity capital markets experience, and Alberto Salvadè, who also heads up the firm’s corporate group in Italy.

Cleary Gottlieb Steen & Hamilton‘s Pietro Fioruzzi advises international and Italian corporate clients and investment banks on IPOs and other capital markets transactions. Nicole Puppieni ‘consistently delivers outstanding results’; and Rosa Parmose is particularly focused on matters involving US securities laws.

The Italian equity capital markets practice at Herbert Smith Freehills LLP was established in February 2023 when Augusto Santoro, whose transactional experience covers financial instrument offerings and IPOs, was recruited from Simmons & Simmons. Santoro joined alongside Bernadetta Troisi, who assists Italian issuers and domestic and foreign financial institutions with listing processes.