Linklaters – Collaboration that powers success

In this testimonial, Thierry L’Homme (Senior Counsel) and Evita Bassot (Counsel) from Linklaters Belgium share how close collaboration with Euroclear and other stakeholders helps equity capital markets transactions run smoothly – from legal structuring through to settlement coordination.

They explain why Belgian equity capital markets and listed companies are expected to move towards larger transactions, while smaller deals will continue to play a role. The European ambition to build a more unified Savings and Investments Union may accelerate this trend. With a Belgian and international cross-practice team and a market-leading track record, Linklaters works closely with partners such as Euroclear to stay ahead of these developments.

Larger transactions often involve more complex structuring, so it is crucial to match that complexity with flawless settlement, payment and delivery processes. An Initial Public Offering (IPO) is a good example. Alongside preparing the corporate steps for the share issuance and managing admission to trading, Linklaters supports the drafting of the prospectus and other transaction documentation. At the same time, the shares need to be dematerialised and entered into the Central Securities Depository (CSD) environment so they can be delivered to investors and traded on the market.

Using shared checklists and timetables with Euroclear and the other stakeholders – and benefiting from Euroclear’s quick, open communication – helps ensure every step is clear and well-coordinated.

The same applies to capital increases, such as rights issues or accelerated bookbuildings. Close alignment with Euroclear supports clean, reliable settlement, while direct access to securities settlement specialists helps even the fastest transactions run smoothly.

Thierry and Evita also highlight the importance of shareholder identification in deal planning. When issuers do not clearly know who their shareholders are, it can be harder to execute rights issues and public takeover bids. It is also more challenging to prepare key shareholders’ meetings or build stronger shareholder engagement. Euroclear InvestorInsight® helps issuers obtain shareholder identification data while staying compliant with the rules on shareholder identification.

Ultimately, Linklaters’ legal structuring goes hand in hand with the practical, hands-on coordination provided by partners like Euroclear – helping clients achieve smooth execution and successful outcomes.