Chrishan Raja
Partner
“Chrishan Raja is extremely diligent and has exceptional delivery.”
The Legal 500 UK (2023)
Chrishan Raja’s practice focuses on international capital markets transactions, both equity and debt, with a UK or U.S. nexus.
His recent equity experience includes several transactions which were the first of their kind, such as ACG Acquisition Company (London listing and 2024 de-SPAC, the first SPAC to complete an acquisition under the FCA’s new regime), Burning Rock Biotech (the first direct listing of its kind on the London Stock Exchange), and Hepsiburada (the first listing of a Turkish company on the Nasdaq Stock Exchange).
His recent experience on the debt side includes English law governed debt issuances, Reg S/Rule 144A offerings of New York law governed notes, and many U.S.-registered offerings of debt securities by financial institutions.
Chrishan is Co-Chair of the London Office’s Trainee Committee, responsible for the recruitment and development of trainee solicitors.
Chrishan joined the firm in September 2012 as a trainee solicitor, qualified as an associate in September 2014, and became partner in January 2023. He has previously been resident in the firm’s New York and Washington, D.C. offices.
Notable Experience
Equity: London-listed
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ACG Metals Limited (ACG), previously ACG Acquisition Company Limited – a London-listed SPAC – on its acquisition of the Gediktepe mine in Türkiye from a subsidiary of Istanbul-based conglomerate Çalık Holding, and re-admission to trading on the London Stock Exchange. The acquisition is the first London-listed de-SPAC to complete under the FCA’s new SPAC regime.
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An anchor investor in its c.$300 funding (by way of equity and warrant finance) of the $1.85 billion acquisition of ASP Acuren Holdings Inc. by Admiral Acquisition Limited, a London-listed SPAC, in July 2024. The target is the ultimate parent company of Acuren, a leading North American provider of critical asset integrity services.
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ACG Acquisition Company in its proposed acquisition of copper and nickel mining assets from Appian Capital and re-admission to listing on the London Stock Exchange, the first signed de-SPAC transaction under the FCA’s new 2021 SPAC regime.
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ACG Acquisition Company on its IPO and standard listing on the London Stock Exchange.
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Burning Rock Biotech on its direct listing of ADSs in London (achieving a dual-listing structure with its existing Nasdaq-listed securities).
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Warburg Pincus in its partial disposition of shares in Airtel Africa by way of block trade.
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A multinational property company listed on the London Stock Exchange in connection with a rights offering.
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The dealer managers in a cash tender offer by a subsidiary of a major telecommunications company listed on the London Stock Exchange for its parent’s ordinary shares and GDRs.
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The dealer managers in a cash tender offer by a subsidiary of a major manufacturing company listed on the London Stock Exchange for its parent’s ordinary shares and GDRs.
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The underwriters in the £154 million IPO of the ordinary shares of Global Ports Holding PLC and standard listing on London Stock Exchange, which included an offering to UK retail investors using financial intermediaries.
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A major retail company in its IPO and listing on the London Stock Exchange.
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A major telecommunications company in its IPO and standard listing of GDRs on the London Stock Exchange and concurrent listing of ordinary shares on the Moscow Stock Exchange.
Equity – Other (U.S.-registered and Reg S/Rule 144A offerings)
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Silk Road Fund in connection with the sale, through an accelerated bookbuilding process, of approximately 90 million ordinary shares representing approximately 9% of the total share capital of Pirelli & C. S.p.A.
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The underwriters in Hepsiburada’s US-registered IPO and listing on Nasdaq (the first Turkish company to do so).
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The underwriters in multiple SEC-registered offerings by Telenor ASA of ADSs and ordinary shares in VEON Ltd. (formerly VimpelCom Ltd.).
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The underwriters in ImageSat International’s Reg S/Rule 144A PO and listing on the Tel Aviv Stock Exchange.
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Retailors Ltd in its Reg S/Rule 144A IPO and listing on the Tel Aviv Stock Exchange.
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Terminal X in its Reg S/Rule 144A IPO and listing on the Tel Aviv Stock Exchange.
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A paper and pulp manufacturer in its $400 million Reg S/Rule 144A offering and listing on a local stock exchange.
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A hydrocarbon shipping company in its $500 million Reg S/Rule 144A offering and listing on a local stock exchange.
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Enefit Green in its Reg S/Rule 144A IPO (with domestic retail component) and listing on Nasdaq Tallinn.
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The underwriters in the Reg S/Rule 144A (with domestic retail component) IPO of Tallinna Sadam AS, the Port of Tallinn in Estonia, the first IPO of an Estonian state-owned entity since 1999 and the first international equity offering by an Estonian company since 2012.
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EFG International in a $295 million rights offering to finance part of its acquisition of BSISA from Banco BTG Pactual S.A.
Equity-linked
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The underwriters in Telenor’s initial disposition of a portion of its ownership stake in VEON, through an offering of bonds exchangeable into VEON ADSs.
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The initial purchasers in several convertible bond offerings by Qiagen NV.
Debt – English law
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Republic of Senegal in an international sovereign bond offering in an aggregate amount of $750 million.
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The Republic of Armenia in its $500 million Reg S/Rule 144A Eurobond and simultaneous tender offer.
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Crédit Agricole S.A. in connection with a consent solicitation from holders of its outstanding €2 billion subordinated 2.625% notes issued on March 17, 2015, and due March 17, 2027.
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Credit Suisse Group AG, Credit Suisse AG, and Credit Suisse International in connection with their respective European debt programmes and related registration documents.
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Goldman Sachs International in connection with its European secured notes programme.
Debt – New York law (U.S.-registered and 144A)
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CMA CGM in its Rule 144A/Reg S high-yield offering of €400 million senior notes.
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Barclays Bank PLC in its $17.7 billion SEC-registered rescission offer, believed to be the largest rescission offer in history.
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Santander UK plc as designated U.S. securities and disclosure counsel on multiple offerings under its registered debt shelf program as well as liability management transactions in relation to its outstanding debt securities and on-going disclosure and reporting as an SEC reporting company.
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Barclays plc and its subsidiaries in numerous US-registered offerings of debt securities.
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Westlake Chemical Corporation in its US-registered offering of €700 million senior unsecured notes.
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Counsel to the initial purchasers in all offerings to date by Israeli banks of U.S. dollar-denominated regulatory capital to institutional investors outside Israel, including:
- The Rule 144A/Reg S offering of $750 million aggregate principal amount of Tier 2 subordinated notes by Bank Leumi Le-Israel.
- The offerings of $500 million senior notes and $500 million Tier 2 notes by Bank Leumi.
- The Rule 144A/Reg S offering of $1 billion aggregate principal amount of Tier 2 subordinated green notes by Bank Hapoalim.
- The offering of $800 million senior notes by Israel Discount Bank Limited.
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The joint bookrunners in the Reg S/Rule 144A high-yield notes offering by Global Ports Holding A.S. (now a wholly owned subsidiary of Global Ports Holding PLC).
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The initial purchasers in the proposed Reg S/Rule 144A high yield notes offering by an international technology company.
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A major industrial company in its proposed Reg S/Rule 144A high yield notes offering.
Publications
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FRC publishes updated UK Corporate Governance Code and Guidance
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Turkish IPOs in Istanbul, London and the United States – Key Issues for Market Participants
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SPACs and More: Key Proposals for Change to the UK’s Listing Regime
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Disclosure Considerations for UK and EU Public Companies in the Context of the COVID-19 Pandemic
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New FCA Requirement for Issuers to Provide a Description of Rights for Listed Securities
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Social Bonds in Response to the COVID-19 Crisis: a Guide for Issuers
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View from the UK: Recent Developments in Brexit and Corporate Governance
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Emerging Markets Restructuring Journal, Issue No. 8 Winter 2018-2019
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Turkish IPOs in Istanbul, and London – Key Issues for Market Participants
Events
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October 29, 2023