Hogan Lovells represents the Government of India in the initial public offering by Ircon International

Hogan Lovells represented Ircon International Limited (IRCON), together with the Government of India as selling shareholder, in IRCON’s initial public offering, which closed this week.

IRCON, formerly Indian Railway Construction Company Limited, is the Indian government's transportation construction arm. This week's IPO is part of an effort to privatize some of the government's state-owned enterprises and public assets with the aim to raise approximately US$12.5bn by divestment in 2018-2019.  IRCON is the second railway state owned enterprise to be publicly listed.

Led by Hong Kong Partner Stephen Peepels, Hogan Lovells advised on U.S. and international securities law issues, while drafting much of the prospectus for the IPO.  Hong Kong Associate William Wu worked alongside Stephen on the transaction.

Stephen Peepels, discussing the IPO, said, "We are pleased to have represented Ircon International and the Indian Government in this important transaction. Hogan Lovells has a long and deep commitment to advising state owned enterprises, financial institutions and corporate clients in India in important cross border transactions. The IRCON IPO reflects that commitment, and we look forward to successfully completing a number of these types of transactions on which we are currently advising.” 

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