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Latham & Watkins Advises Diversified Energy on NYSE Direct Listing

December 18, 2023
Cross-border team represents the energy company in the complex dual listing, that utilizes a US direct listing process.

Diversified Energy Company PLC (LSE: DEC, NYSE: DEC) has announced that trading of its ordinary shares will commence at US market open December 18, 2023 on the New York Stock Exchange (NYSE) under the ticker symbol “DEC.” As previously announced, the Company utilized a direct listing process. The Company will retain its premium listing and will continue to trade on the main market of the London Stock Exchange (LSE). Further, the Company expects that it will continue to be a constituent of the FTSE 250 index in the UK. No ordinary shares are being offered or sold in connection with the NYSE listing.

Latham & Watkins LLP is advising Diversified Energy in the listing with a corporate deal team led by Austin partner David Miller, London partner James Inness, Houston partner Ryan Lynch, and associate Koushik Prasad, with additional assistance from associates Connor Adams, Darby Dietrich, Jonathan Lin, Rachel Moore, and Haley Sandoval. Advice was also provided on US securities matters by Washington, D.C. partner Paul Dudek and New York counsel Gail Neely; on UK tax matters by London partner Karl Mah, with associates Aoife McCabe and Richard Liu; on US tax matters by Houston partners Tim Fenn and Jim Cole, with associate Christine Mainguy; on UK benefits matters by London partner Sarah Gadd; on US benefits matters by Los Angeles/Orange County partner Michelle Carpenter, with associate Iryna Onyshchenko*; and on environmental matters by Los Angeles/Houston partner Josh Marnitz.

*Admitted to practice in Ukraine only.