European law firm Fieldfisher has advised EnSilica, a leading designer and supplier of mixed signal ASICs (Application Specific Integrated Circuits) on its admission to trading on London's AIM market and successful placing raising £6 million.
Shares in the company were admitted to trading on AIM on 24 May 2022 with a market capitalisation of approximately £37.6 million for EnSilica.
EnSilica provides an end-to-end service for the design and supply of mixed signal ASICs, which are integrated circuits or semiconductor chips developed for a particular use or product rather than for general purpose usage.
ASICs help differentiate products through optimised hardware, making products smaller, faster, lower power, with improved security. They also add novel functionality, improve supply chain security and protect products from being copied.
EnSilica’s customers range from global corporations and original equipment manufacturers (OEMs) to technology start-ups, including automotive Tier 1 suppliers, industrial enterprises, large software companies and service providers.
The company's directors believe a quotation on AIM, together with the funds raised from the IPO, will enhance the international profile of EnSilica; allow the company to access equity capital to fund growth and support potential M&A opportunities; support recruitment and retention of key employees; and create a platform for existing shareholders to participate in future growth.
EnSilica is headquartered in Oxfordshire and has design centres in Wokingham, Sheffield, Bangalore, India and Porto Alegre in Brazil, employing 120 people.
Commenting on EnSilica's admission to AIM, Neil Matthews, Head of Corporate at Fieldfisher who led the team advising on the IPO, said:
"This was a great deal to work on in the context of the well-publicised critical global need for the kind of technology EnSilica specialises in.
"It is also encouraging that our leading equity capital markets team continues to bring promising businesses to AIM successfully, despite the wider economic and political uncertainties in the market."
Ian Lankshear, CEO of EnSilica commented:
“We are delighted to be floating EnSilica on AIM and believe this represents a major endorsement of our business.
"Our quoted status will provide an ideal platform from which to accelerate a number of growth initiatives which will ultimately further expand both market reach and customer footprint."
EnSilica was advised by Fieldfisher's Band 1-ranked equity capital markets practice, with the deal team comprising corporate partner Neil Matthews, senior associate Lily Searle and tax and structuring director, Tamsin Nicholds.
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