Ranking tables

Capital Markets: Equity | Global

Global: Multi-Jurisdictional

Advice on equity offerings transactions such as IPOs, follow-on offerings, right offerings, capital increases, ADR / GDR offerings, accelerated bookbuilts and block trades. 

All Departments profiles

1

Band 1

  1. A&O Shearman
    1
    A&O Shearman
    Capital Markets: Equity
    2025 | Band 1 | 6 Years Ranked

    A&O Shearman is a renowned firm with a laudable global capital markets practice. The firm features offices in many key financial centres, including London, Frankfurt, Hong Kong, New York and Singapore. The law firm offers:

    • Market-leading debt capital markets and securitisation capabilities

    • In-depth experience in African high-yield and equity deals as well as in equity mandates in the Middle East.

    • Close affinity to the financial sector, with large investment banks and global financial institutions among its clients.

    • Experience advising on a range of cross-border sovereign bond issuance matters, high-profile capital raisings and IPOs.

  2. Clifford Chance LLP
    1
    Clifford Chance LLP
    Capital Markets: Equity
    2025 | Band 1 | 4 Years Ranked

    Clifford Chance is a globally recognised brand with leading expertise across debt, equity and securitisation within capital markets. The law firm offers:

    • Expertise in a range of debt capital markets issues, and it is well versed in investment-grade and green bonds, liability management, sovereign issues and emerging market issuances.

    • Extensive experience of large IPO transactions and listings across a diverse range of markets, including the London Stock Exchange.

    • A widely recognised capability in US derivatives and leading expertise for structured finance work across Europe and Asia.

    • Familiarity representing the largest global financial institutions and investment banks.

  3. 1
    Latham & Watkins LLP
    Capital Markets: Equity
    2025 | Band 1 | 4 Years Ranked

    Latham & Watkins has a respected team with extensive experience and expertise. The law firm offers:

    • A leading issuer and sponsor practice in relation to high-yield products.

    • An equity capital markets team that has experienced impressive growth globally, particularly through an increased presence in Europe and emerging markets.

    • Strength in depth across equity, debt and high-yield matters and adeptness in advising non-US issuers attempting to access US capital markets.

    • Noteworthy strength in securitisation.

  4. Linklaters
    1
    Linklaters
    Capital Markets: Equity
    2025 | Band 1 | 4 Years Ranked

    Linklaters is a leading UK firm that stands out for the breadth of its expertise in capital markets. The law firm offers:

    • A highly regarded practice for a wide range of debt issuances, structured lending transactions and IPOs.

    • Strong relationships with many large financial institutions, regularly serving as underwriters' counsel, while also remaining a popular choice for issuers and corporate clients.

    • A highly integrated global team, particularly impressing across Europe and Asia, offering seamless handling of cross-border matters.

    • An impressive ability to win instructions on complex global equity transactions.

2

Band 2

  1. Davis Polk & Wardwell LLP
    2
    Davis Polk & Wardwell LLP
    Capital Markets: Equity
    2025 | Band 2 | 4 Years Ranked

    Davis Polk & Wardwell is a prominent US firm with a significant global profile in capital markets across a range of jurisdictions. The law firm offers:

    • A leading New York-headquartered capital markets group in the USA.

    • A focused team in the UK with a strong emphasis on capital markets that enhances the firm's market share in Europe, particularly in relation to US-law issuances by European companies.

    • Impressive Asian and Latin American practices.

    • Experience acting for international corporations and banks on some of the most high-profile IPOs in the global market and on complex high-yield and debt capital transactions.

  2. Freshfields
    2
    Freshfields
    Capital Markets: Equity
    2025 | Band 2 | 4 Years Ranked

    Freshfields is a highly regarded international firm with a particular emphasis towards corporate clients and issuers. The law firm offers:

    • Distinguished equity capital markets work and excellent coverage across Europe.

    • Experience working with international clients throughout its London, Frankfurt, Hong Kong and New York offices.

    • Expertise advising on IPOs and equity-linked debt securities.

    • Familiarity acting for an impressive list of government entities and major investment banks. 

  3. Simpson Thacher & Bartlett LLP
    2
    Simpson Thacher & Bartlett LLP
    Capital Markets: Equity
    2025 | Band 2 | 4 Years Ranked

    Simpson Thacher & Bartlett possesses a diverse capital markets practice with extensive expertise in debt, high-yield and equity matters. The law firm offers:

    • Considerable strengths from its US base, with high-end practices across the range of products in New York.

    • Global strength through a well-regarded London high-yield practice and a highly rated team of lawyers across Asia.

    • Substantial experience assisting first-time issuers and a well-regarded private equity practice to complement its global capital markets offering.

  4. White & Case LLP
    2
    White & Case LLP
    Capital Markets: Equity
    2025 | Band 2 | 4 Years Ranked

    White & Case is a globally renowned firm that possesses impressive capabilities in many key financial areas, as well as local law expertise in numerous other jurisdictions. The law firm offers:

    • Particular strength in the debt capital markets space.

    • An excellent track record in high-profile and complex Islamic financing and sukuk matters, as well as in sovereign debt issuances.

    • Long-standing experience in Africa, the Middle East and emerging markets.

3

Band 3

  1. Skadden, Arps, Slate, Meagher & Flom LLP & Affiliates
    3
    Skadden, Arps, Slate, Meagher & Flom LLP & Affiliates
    Capital Markets: Equity
    2025 | Band 3 | 4 Years Ranked

    Skadden, Arps, Slate, Meagher & Flom is an internationally-respected firm that offers an impressive spread of capital markets practices across areas of specialism. The law firm offers:

    • Specialist capabilities in equity and regulatory matters, while maintaining notable capabilities in high-yield and structured finance

    • Considerable strengths across key economic centres, including New York, London and São Paulo

    • A Hong Kong office adept at handling a wide range of debt and equity transactions, with a strong track record in major IPOs in China.

    • Experience working with large investment banks, Fortune 500 companies and other financial institutions.

  2. Sullivan & Cromwell LLP
    3
    Sullivan & Cromwell LLP
    Capital Markets: Equity
    2025 | Band 3 | 4 Years Ranked

    Sullivan & Cromwell is a distinguished US firm with a leading equity capital markets practice. The law firm offers:

    • Significant transatlantic capabilities through the combination of its top-tier US team and its impressive London and Frankfurt offices.

    • Broad expertise which includes IPOs, investment-grade debt offerings, collateralised loan obligations and acquisition financing.

    • Strong relationships with, and experience representing, significant underwriter and issuer clients across Asia, Europe and Latin America.

    • Experience in global debt and equity listings with US law components, regardless of origin.

  3. Cleary Gottlieb Steen & Hamilton LLP
    Capital Markets: Equity
    2025 | Band 3
4

Band 4

  1. Baker McKenzie
    4
    Baker McKenzie
    Capital Markets: Equity
    2025 | Band 4 | 4 Years Ranked

    Baker McKenzie has a respected capital markets practice with an impressive global footprint spanning across Europe, Asia, the USA and the Middle East. The law firm offers:

    • Extensive experience representing issuers in equity offerings, with experience on the underwriter side.

    • Experience working with global investment banks and financial institutions.

    • Strong capabilities assisting with transactions in emerging markets and across Asia and the Middle East.

    • Further strength in depth in its public M&A and equity markets teams through new hires in the USA.

  2. Herbert Smith Freehills
    4
    Herbert Smith Freehills
    Capital Markets: Equity
    2025 | Band 4 | 4 Years Ranked

    Herbert Smith Freehills possesses a strong reputation across several regions, particularly Europe, the Middle East and Asia. The law firm offers:

    • Experience advising a mixture of underwriters and issuers on cross-border transactions.

    • Expertise in areas including convertible bonds, sukuk products, investment-grade bonds, IPOs and US-listed securities.

    • A highly regarded London team which is the key centre for the firm's capital markets work, and a strong group in Asia particularly active on Hong Kong listings.

  3. Sidley Austin LLP
    4
    Sidley Austin LLP
    Capital Markets: Equity
    2025 | Band 4 | 4 Years Ranked

    Sidley Austin has a vastly experienced capital markets team with particular proficiency in advising on debt capital transactions, along with structured finance, securitisation and high-yield products. The law firm offers:

    • Experience acting for financial institutions due to its significant focus on the financial sector across its global platform.

    • Knowledge of matters including mortgage and asset-backed securities, CLOs and conduit transactions.

    • Strength in London and Hong Kong and across the USA for securities and debt work, in both investment-grade and non-investment-grade bonds.