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Fieldfisher advised First Sentinel Corporate Finance Limited, Novum Securities Limited and Tennyson Securities in their capacities as joint brokers on a placing to raise £35 million for NFT Investments PLC ahead of the company's listing on the Aquis Stock Exchange Growth Market (Access segment) on Friday 16 April.
The fundraising gives NFT Investments a market capitalisation of £50 million.
Fieldfisher also advised on the admission of the issued and to be issued shares to trading on the Aquis Stock Exchange.
The £35 million raised is a record for a company listing on the Aquis Stock Exchange, a European securities trading market founded in 2001 and based in London and was more than three times NFT Investments' initial target.
The company was created to invest directly into non-fungible tokens (NFTs), companies and rights and is the world’s first pure-play investment company focused exclusively on investing in NFTs to launch on a stock market in a major jurisdiction.
NFT Investments was established by the co-founders of LSE-listed crypto mining firm Argo Blockchain PLC, which was the first crypto-mining service to list on the Main Market of the London Stock Exchange in August 2018 – a deal also advised on by Fieldfisher.
Commenting on the fundraising and IPO, Fieldfisher corporate partner Anthony Brockbank who led the Fieldfisher team advising the brokers said:
"The popularity of NFTs has been one of the standout trends of the past year and the potential of such assets to revolutionise certain transactions has lately been the subject of considered discussion and attention.
"Listings of businesses whose purpose is to invest in NFTs on established stock exchanges in major jurisdictions will likely encourage confidence in this emerging area of the digital currency market."
About Fieldfisher
Fieldfisher is a European law firm with market-leading practices in many of the world's most dynamic sectors. We are an exciting, forward-thinking organisation with a particular focus on technology, financial services, energy & natural resources and life sciences.
Fieldfisher has 25 offices across 11 countries, with dedicated equity capital markets expertise in London, Manchester and Paris.
We operate across our offices in Amsterdam, Barcelona, Beijing, Belfast, Birmingham, Bologna, Brussels, Dublin, Düsseldorf, Frankfurt, Guangzhou, Hamburg, London, Luxembourg, Madrid, Manchester, Milan, Munich, Paris, Rome, Shanghai, Turin, Venice and Silicon Valley.