Herbert Smith Freehills Kramer advises WH Smith Plc on capital raise

Leading global law firm Herbert Smith Freehills Kramer is advising longstanding UK-listed client WH Smith Plc (WH Smith), a leading global travel retailer with over 1,200 stores worldwide, on its £100 million capital raise. 

WH Smith's capital raise, including through a placing of up to approximately 26 million new ordinary shares in the company, represents approximately 20% of the company's existing share capital.

The Herbert Smith Freehills Kramer team was led by partners Robert Moore, Sarah Ries-Coward, Tom O'Neill and of counsel Thomas Vaughan. The wider team included senior associate Megan Gray, senior solicitor Colm Wolinski, associates Adriel Amoh and Samuel Au, and trainee Alexis Sudrajat. The Herbert Smith Freehills Kramer team worked alongside WH Smith's general counsel Ian Houghton. A&O Shearman are advising the banks.

Partner Robert Moore commented: "We are proud to be advising WH Smith Plc on this capital raise, further building on our longstanding relationship with the company. This deal reflects the breadth of our support for UK-listed companies and our deep capital markets capabilities."

The firm has advised WH Smith on several recent deals, including the sale of its UK high street business and its £200 million USPP issuance.