London—Dentons is pleased to have advised DP Eurasia N.V., the exclusive master franchisee of the Domino's Pizza brand for Turkey, Russia, Georgia and Azerbaijan, on its successful initial public offering (IPO) and admission to listing on the premium segment of the UK Listing Authority (UKLA) and to trading on the London Stock Exchange. The offering raised gross proceeds of approximately £148 million. DP Eurasia is the first Turkish business to access the premium segment of the UK market – the "super-equivalent", and highest, standard of listing in the UK. Dentons acted as English, United States, Turkish and Russian counsel to the company.

DP Eurasia N.V. is the fifth largest franchisee of Domino's Pizza Inc. (NYSE:DPZ) with 571 stores across its four geographies. The company was admitted to the London Stock Exchange today with a market capitalisation of £291 million (based on the offer price). The IPO comprises existing shares sold by shareholders (TPEF II, a fund advised by Turk Ventures Advisory Limited, and Aslan Saranga, DP Eurasia N.V.'s CEO) and an issue of new shares by the company to raise approximately £20 million. The company intends to use proceeds from the offering for general corporate and working capital purposes and to expand its business in Russia.

DP Eurasia N.V. is incorporated in the Netherlands and, as a result, the listing and offering required approvals from the Netherlands Authority for the Financial Markets (the AFM) as well as the UKLA. The offering also included a placement to institutional investors in the United States.

London-based Corporate partner Nik Colbridge, who led the Dentons team, said, "The IPO market in London got off to a relatively slow start at the beginning of 2017, likely due in part to lingering Brexit uncertainty. However, the market has picked up in the second quarter and companies like DP Eurasia are helping to bolster the pipeline of IPOs over the remainder of the year. Turkish businesses have not been frequent players in the London IPO market and so it is especially encouraging to see this region access the premium segment of the UKLA for the first time.

"This deal showcases Dentons' strengths in terms of cross-border collaboration across London, Istanbul and Moscow. We are delighted to have been able to advise DP Eurasia N.V. on this matter."

Partner Nik Colbridge and senior associate James Davison led the matter from London. Corporate partners Mufit Arapoglu and Galip Selcuk from Balcıoğlu Selçuk Akman Keki Attorney Partnership, the Istanbul-based law firm that cooperates with Dentons, led on Turkish law matters. London Corporate partner Cameron Half led on US securities laws matters, with assistance from New York Corporate partner Steve Berson; Tax partner John Harrington in Washington led on US tax matters.

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