The impact of prestigious attorneys on IPO withdrawal in the global primary market

Jamaani, Fouad; Alidarous, Manal

doi:10.1186/s40854-023-00555-6

Financial Innovation

Table 3 Top 100 globally registered IPO law firm in Bloomberg New Issue Database from 1995 to 2019

From: The impact of prestigious attorneys on IPO withdrawal in the global primary market

Rank	Adviser	Global market share (%)	Total proceeds (USD Billion)
1	DLA Piper LLP	4.50	$210.0
2	Werksmans Attorneys	4.12	$192.3
3	Davis Polk & Wardwell	4.07	$189.9
4	Linklaters LLP	4.06	$189.6
5	Simpson Thacher & Bartlett	3.84	$179.5
6	Freshfields Bruckhaus Deringer	3.78	$176.7
7	Clifford Chance LLP	3.74	$174.4
8	Sullivan & Cromwell	2.98	$139.3
9	Latham & Watkins LLP	2.92	$136.4
10	Skadden Arps Slate Meagher & Flom LLP	2.88	$134.4
11	King & Wood Mallesons	2.59	$120.8
12	Shearman & Sterling LLP	2.17	$101.2
13	Cleary Gottlieb Steen & Hamilton	2.00	$93.3
14	Allen & Overy LLP	1.96	$91.6
15	Herbert Smith Freehills	1.60	$74.9
16	White & Case LLP	1.60	$74.7
17	Weil Gotshal & Manges LLP	1.04	$48.5
18	Grandall Law Firm	1.03	$48.0
19	Haiwen & Partners	1.02	$47.7
20	Cravath Swaine & Moore	0.96	$44.8
21	Jingtian & Gongcheng	0.94	$44.0
22	Sidley Austin LLP	0.93	$43.4
23	K&L Gates LLP	0.90	$42.1
24	Commerce & Finance Law Offices	0.89	$41.8
25	Ropes & Gray LLP	0.86	$40.2
26	Baker McKenzie	0.81	$37.7
27	Norton Rose Fulbright LLP	0.79	$36.7
28	Anderson Mori & Tomotsune	0.71	$33.3
29	Wilson Sonsini Goodrich & Rosati	0.64	$30.0
30	Conyers Dill & Pearman	0.62	$28.7
31	JunHe LLP	0.60	$28.2
32	Debevoise & Plimpton LLP	0.59	$27.7
33	Jia Yuan Law Firm	0.58	$27.0
34	Vinson & Elkins LLP	0.54	$25.3
35	Zhong Lun Law Firm	0.54	$25.0
36	Cooley LLP	0.53	$24.9
37	Paul Hastings LLP	0.53	$24.8
38	Mori Hamada & Matsumoto	0.50	$23.2
39	Slaughter and May	0.47	$22.2
40	Hogan Lovells US LLP	0.47	$21.8
41	Kirkland & Ellis	0.45	$20.8
42	Ashurst LLP	0.44	$20.8
43	Tian Yuan Law Firm	0.44	$20.4
44	Mattos Filho Veiga Filho Marrey Quiroga	0.44	$20.4
45	Amarchand Mangaldas & Suresh A Shroff	0.42	$19.6
46	Goodwin Procter LLP	0.42	$19.5
47	Cahill Gordon & Reindel	0.41	$19.4
48	Hunton Andrews Kurth LLP	0.41	$19.3
49	Stikeman Elliott	0.41	$18.9
50	Dewey & LeBoeuf LLP	0.41	$18.9
51	Uria Menendez Law Firm	0.39	$18.3
52	WilmerHale	0.39	$18.2
53	Chiomenti Studio Legale	0.36	$17.0
54	Beijing Deheng Law	0.35	$16.3
55	Osler Hoskin & Harcourt LLP	0.34	$16.0
56	Fried Frank Harris Shriver & Jacobson	0.34	$15.7
57	Venable LLP	0.32	$14.9
58	Millbank LLC	0.31	$14.6
59	Dechert	0.31	$14.3
60	Maples & Calder	0.31	$14.3
61	Willkie Farr & Gallagher	0.30	$14.1
62	Nishimura & Asahi	0.30	$13.9
63	Bonelli Erede Pappalardo	0.28	$13.3
64	Fangda Partners	0.28	$13.2
65	Mayer Brown LLP	0.27	$12.6
66	Dentons	0.27	$12.5
67	Baker Botts LLP	0.26	$12.3
68	Gilbert + Tobin	0.26	$12.2
69	Allens	0.25	$11.6
70	Cariola Diez Perez-Cotapos	0.23	$11.0
71	Cyril Amarchand Mangaldas	0.23	$11.0
72	Morgan Lewis & Bockius LLP	0.23	$10.9
73	Blake Cassels & Graydon LLP	0.23	$10.9
74	Allbright Law Office	0.23	$10.7
75	Clayton Utz	0.23	$10.6
76	Ogier	0.23	$10.6
77	Beijing Grandway Law Offices	0.23	$10.5
78	Torys	0.22	$10.4
78	Shin & Kim	0.22	$10.4
80	Jones Day	0.22	$10.4
81	Simmons & Simmons	0.22	$10.2
82	Luthra & Luthra Law Offices	0.22	$10.1
83	Paul Weiss Rifkind Wharton & Garrison	0.21	$9.7
84	Travers Smith	0.20	$9.5
85	Gibson Dunn & Crutcher	0.20	$9.4
86	Eversheds Sutherland Ltd	0.20	$9.3
87	Morrison & Foerster LLP	0.20	$9.3
88	Fenwick & West LLP	0.19	$8.7
89	Reed Smith LLP	0.18	$8.6
90	Machado Meyer Sendacz e Opice	0.18	$8.5
91	Minter Ellison	0.18	$8.5
92	Khaitan & Co	0.18	$8.2
93	Al Tamimi & Co	0.17	$8.1
94	Beijing Tianyin Law Firm	0.17	$7.9
95	Beijing Kang Da Law Firm	0.16	$7.7
96	AZB & Partners	0.16	$7.6
97	Mourant du Feu & Jeune	0.16	$7.5
98	Wachtell Lipton Rosen & Katz	0.16	$7.5
99	McCann Fitzgerald	0.16	$7.4
100	Chapman & Cutler LLP	0.16	$7.4
	Total	82.60	$3,857.4

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