Equity Capital Markets

Our Expertise

• Initial public offerings on the Main Market, AIM, NEX Exchange, Euronext and Euronext Growth.
• Pre-IPO private placements, planning and restructuring.
• Secondary fundraisings (including placings, rights issues, open offers and vendor placings).
• Public takeovers (including advising investment banks and bidders and targets on takeovers of quoted companies in both recommended and hostile situations, by scheme of arrangement and by offer).
• Tender offers, share buy-backs and returns of capital.
• Acquisitions and reverse takeovers.
• "Buy and build" strategies.
• Corporate governance.
• De-listings.

Notable Deals

Energy and natural resources

• Diversified Gas & Oil plc: advised Mirabaud Securities and Stifel Nicolaus Europe on the secondary fundraising by Diversified Gas & Oil plc, which raised US$189 million. The amount raised was one of the largest AIM secondary fundraisings and doubled the company's market capitalisation.
  
• Atalya Mining plc: advised this European copper producer on a cross-border deal which involved an institutional fundraising of over £100 million for the restart and expansion of the Rio Tinto Copper mine in Spain.
• JSC KazMunaiGas Exploration Production: advised JSC KazMunaiGas Exploration Production in respect of US$1.95 billion tender offer launched by the company in December 2017 for its GDRs and shares, valuing the company at US$5.6 billion, and its delisting from the Official List of the London Stock Exchange and the Kazakhstan Stock Exchange.
  

Legal sector

• Rosenblatt Group plc: advised Cenkos Securities in its role as nominated adviser on the listing of Rosenblatt law firm on AIM and the associated fundraising of £43 million. Rosenblatt was the fourth law firm in the UK to list following the introduction of the LSA in 2007 which enabled law firms to be owned and run by non-lawyers.
• We have acted on three of the first four law firm IPOs.

Life sciences and healthcare

• Cenkos Securities: advised the nomad and broker on Diaceutics plc's IPO on AIM, one of the few IPOs in 2019. Diaceutics' help provide insights into the integration of testing into treatment pathways.
• Panmure Gordon and Bank DeGroof Petercam: advised the nomad and joint brokers on Animalcare Group plc's (the veterinary medicine provider) reverse takeover of Ecuphar, secondary fundraising and readmission to AIM (voted "AIM Transaction of the Year" at the AIM Awards 2017).

Technology

• Blue Prism: advised Blue Prism, the leading robotic process automation business, on its acquisition of Thoughtonomy for c.£80 million satisfied in cash and AIM-listed shares.
• Restore plc: advised document management group Restore on its £88 million acquisition of TNT UK’s document management business. This was funded by a £51 million placing on AIM and £160 million of debt from a newly-expanded syndicate.
• Safran Corporate Ventures: advised this entity on the IPO of Kalray, the computer processer manufacturer, of which Safran Corporate Ventures is a shareholder, on Euronext Growth to raise EUR 43.5 million.