Sorainen has won a tender to advise Lithuania's state-owned Ignitis Group on an initial public offering it is currently considering. Ashurst will be advising on English and US law aspects.
According to Sorainen, “the Ignitis Group IPO could be announced after the group delists the shares of its subsidiaries Energijos Skirstymo Operatoriaus and Ignitis Gamyba, which are currently listed on the Nasdaq Vilnius Stock Exchange. The conclusions of the Ministry of Finance working group on the possibilities for the IPO are expected to be published by March. According to the company, this IPO could become the largest in the Baltic States to date.”
Sorainen’s team will include Partners Tomas Kontautas and Sergej Butov and Senior Associates Dalia Augaite, Inga Macijauskaite, and Evaldas Dudonis.