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European law firm Fieldfisher has advised Public Policy Holding Company, Inc. (PPHC), a leading bi-partisan, full-service US government affairs business, on its admission to trading on London's AIM market and a successful conditional placing (conducted by Stifel) raising gross proceeds of approximately £30.7 million.
Shares in the company were admitted to trading on AIM on 16 December 2021, with a market capitalisation of approximately £146.1 million for PPHC.
Shares in the company were admitted to trading on AIM on 16 December 2021, with a market capitalisation of approximately £146.1 million for PPHC.
PPHC operates a number of subsidiaries run by founders and senior managers operating largely in Washington DC and with past careers and close professional ties to the US Executive Branch, Congress and national and state political parties over a period of more than 30 years.
The group's portfolio of more than 700 active client relationships includes clients in the healthcare and pharmaceuticals, financial services, energy, technology, telecom and transportation sectors.
PPHC's services, the majority of which are offered on retainer, include federal lobbying, public affairs advisory, research, and digital campaigns, which are particularly attractive to blue-chip brands looking for a more holistic approach to public affairs and stakeholder management.
The company's directors believe that admission on AIM will assist with the growth of PPHC's business and its acquisition strategy, in particular through providing access to equity capital, enhancing the group's profile and allowing it to offer equity incentives to staff.
The net proceeds of the placing will principally be used to fund accelerated growth and talent acquisition and repay the outstanding balance on PPHC's revolving line of credit.
PPHC was advised by Fieldfisher's band 1-ranked equity capital markets team.
Commenting on PPHC's successful admission to AIM, Dominic Gurney-Champion, corporate partner at Fieldfisher who led the legal team advising PPHC on its IPO, said:
"This IPO is testament to the draw of London's AIM market, which is able to attract companies with no prior connection to the UK and yet which are looking for a market that caters to the needs of growing companies.
"The past 18 months have been incredibly busy for AIM listings, bringing new types of company to the London Stock Exchange and contributing to the health of the London capital markets.
"We congratulate PPHC on its successful admission and placing and wish the business the best of luck in its future as an AIM-listed company."
PPHC was advised by corporate partner Dominic Gurney-Champion and solicitor Jack Mason-Jebb. Venable LLP provided US legal advice and K&L Gates acted for Stifel.
About Fieldfisher
Fieldfisher is a European law firm built around its people. We are a full-service firm with market-leading practices in energy and natural resources, technology, financial services and life sciences.
Our network of more than 1,700 expert people spans 25 offices in 11 countries, including our US and China locations, acting alongside our international partner firms, enabling us to advise clients around the world with seamless efficiency and dedication across time zones and disciplines.
A Times Top 20 Law Firm, we are highly commended by the European Financial Times Innovative Lawyers rankings and repeatedly nominated for awards in areas including dispute resolution, public and regulatory, M&A and IP.
Our lawyers are consistently recognised by legal directories as leading professionals in their areas of specialism and we are ranked tier 1 or 2 in a number of our key practice areas.
For more information about our firm, please see: About | Fieldfisher