In 2018, 188 IPOs raised $45.7 billion, 18% more deals than 2017. With every IPO requiring at least two legal firms, one for issuers and one for underwriters (and some hiring as many as five), there were 587 legal engagements with 140 law firms. Latham & Watkins and Cooley retained their #1 and #2 spots; the California-based law firms again benefitted from a year dominated by tech and biotech.
Known for its Capital Markets practice, New York heavyweight Davis Polk appeared at #3. It paid to have a global presence in 2018, particularly in China, and foreign issuers boosted New York-based Skadden and Cayman Islands-based Maples to #4 and #5, respectively. A continued wave of blank check companies propelled SPAC specialist Ellenoff Grossman to #6. The tech and biotech trend also helped Boston-based biotech expert Goodwin Procter (#7) and Silicon Valley tech advisor Wilson Sonsini (#8).
For a more detailed analysis, read the full, original article here.