Flotations and Corporate Finance

The Public Company Group regularly advises UK and overseas companies, founder/selling shareholders, nominated advisers and brokers on all types of corporate finance transactions, including:

Flotations (including reverse takeovers) - on AIM, the Main Market and PLUS and the Firm has also advised in connection with flotations on Euronext, the Channel Islands Stock Exchange and the Irish Stock Exchange.
Secondary fundraisings - placings, open offers and rights issues.
Private placements - including pre-IPO fundraisings.
Flotation planning - assessing the merits of alternative funding structures and formulating a flotation action plan.

The Firm has flotation experience across a wide range of sectors (e.g. pubs and hotels, technology/software, investment funds, construction etc) and we are happy to work on relatively small floats as well as larger offerings. In addition to our domestic practice, we also have a lot of experience in bringing international companies to the London markets. If desired, we can refer the company to financial advisers, nomads and accountants that we think are appropriate for their size and sector and we would advise on the negotiations of the terms of engagement. Our general approach to a flotation is to get to know the company as thoroughly and as early as possible in the process so that we can best represent them throughout what is inevitably a fairly long and arduous time.

For further information about our services or to discuss a particular matter or situation, please contact Ross Bryson on +44 (0)20 7440 7190 or by email.

Work Highlights

Our team has advised the following:

ACP Mezzanine Limited and its investment manager, ACP Capital, on its €100m dual-listing on AIM and the Channel Islands Stock Exchange.
ACP Capital Limited, the AIM-listed Jersey-based niche integrated finance provider specialising in the European SME market, on its £150 million secondary placing. Collins Stewart acted as nominated adviser and Nomad/Broker.
Amteus plc, the AIM-listed provider of private and secure IP based business communications software, on its £3.5 million secondary fundraising on AIM. John East & Partners acted as who were the nominated adviser and broker.
London Town plc, an AIM listed client, on its £94.57 million reverse acquisition of a portfolio of 167 pubs and on London Town's re-admission to AIM. The acquisition was funded by a £72.8 million debt facility, £14.3 million from a new share issue and £14 million from the issue of deep discount bonds. Strand Partners acted as nomad and broker.
Yatra Capital Limited, a Jersey based investment fund on its €100 million fundraising and flotation on Euronext Amsterdam. Fairfax I.S. plc acted as placing agent and ABN AMRO Bank N.V acted as the listing agent.
IFR Capital plc, a Cyprus company, established as an acquisition platform to target small and mid-sized businesses in the continental European food industry, on its €135 million placing and admission to AIM. Collins Stewart acted as nomad and broker.
Teather & Greenwood Limited (as nomad and broker) on the £5.25m placing for Telephonetics plc, an AIM listed UK-based advanced speech recognition ('ASR') and computer telephony group. The placing proceeds partly funded the cash element of the company's acquisition of a privately owned ASR and computer telephony company.
Noida Toll Bridge Company Limited, on the first issue of global depositary receipts (GDRs) on AIM for a listed Indian company. NTBCL raised US$45m under the GDR issue and had a market capitalisation on the date of admission of US$142.87m. The transaction also included a 10% over-allotment option for stabilisation purposes.
ACP Capital Limited, a fund of funds business based in Jersey, on its £50m fundraising and admission to AIM with a market capitalisation of £64m.
Gold Frost Limited, an Israeli designer, developer and distributor of kosher food products, on its admission to AIM with a placing of £4.5m and an opening market capitalisation of approximately £18.5m.
Amteus Plc, a UK VoIP technology provider, on its $4m fundraising and admission to AIM with a market capitalisation of £19m.
Strand Partners Limited (Nomad) and Teather & Greenwood Limited (Broker) on the £8.2m placing and admission to AIM of AdEPT Telecom Plc, a non-network UK telecom company, with a market capitalisation of £29.5m.
Selling shareholders of Excapsa Software Inc who raised in excess of £8m upon admission to AIM of the Canadian-based company that develops, maintains and markets multi-player, real time, internet enabled poker software. Excapsa was admitted to AIM with a market capitalisation of £214.2m.
Two of the four founding shareholders of PartyGaming Plc, an online gaming company based in Gibraltar, on its listing on the Official List of the LSE with a market capitalisation of £4.72b.
Maypole Group Plc, an operator of UK restaurant led countryside hotels, on its admission to AIM from Ofex with an opening market capitalisation of £2.3m. The admission was by way of an introduction with no fundraising.
TTG Europe Plc, a UK telecoms company, on its secondary fundraising of £9.78m by way of a placing and open offer on AIM.
4Less Group Plc, a UK financial products broker, on its fundraising of £2m and its admission to AIM with a market capitalisation of £4.8m.
Cellular Holdings Plc, a UK telecoms business, on its AIM reverse takeover of Roxspur Plc with a combined market capitalisation of £14m.
Wessex Natural Resources Limited on its listing on the Irish Stock Exchange with a market capitalisation of US$14m.