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Case Study

Fieldfisher ECM team advises on fundraising for Franco Manca owner


United Kingdom

Fieldfisher's equity capital markets team has advised regular client Allenby Capital in its capacity as bookrunner, broker and NOMAD to The Fulham Shore PLC, owner of the popular restaurant chains Franco Manca and The Real Greek, on a share issue to raise £2.25 million.

The Fulham Shore was forced to close all its restaurants in March at the start of the Covid-19 lockdown. 

Since 4 July, it has reopened almost all of its restaurants and expanded its takeaway and delivery service to compensate for reduced dine-in capacity.

Despite the challenging circumstances, The Fulham Shore's share issue was oversubscribed and the fundraising, combined with new debt facilities, places the company on a sound financial footing to resume its expansion programme and consider potential acquisitions.

Following an initial dip in capital markets activity at the start of lockdown, Fieldfisher's ECM team has been extremely active so far this year, particularly assisting clients with opportunistic fundraisings to weather or even benefit from the impact of the pandemic.

Fieldfisher was ranked by Acuris (the data analysis firm and publisher of Mergermarket) as the top law firm advising on AIM deals by number of transactions in the first half of this year and third by overall ECM activity.

The team advising Allenby was led by corporate partner Brad Isaac, assisted by partner George Cotter and associate Lily Searle.

About Fieldfisher's Equity Capital Markets Team

Fieldfisher's leading equity capital markets team is one of only four firms in the UK to be ranked Band 1 in Chambers & Partners for Equity Capital Markets (AIM). In 2019, we were the number 1 legal adviser on AIM by deal volume. The team is based across Europe and we act for over 50 companies on the Official List, AIM, Euronext Growth, and Acquis Exchange markets as well as a wide range of investment banks, brokers, sponsors and nominated advisers.

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