Corporate activity: a strong start to 2022

10 février 2022

Key Contact(s):

Charles Bond, Hugh Maule, David Brennan, Jeffrey Elway, Samantha Myers, Sunil Kakkad, Gareth Baker, Neil Hendron, Ian Piggin, Kristian Rogers, Oliver Riley, John Reed, Nick Heather, Chris Towle, Anurag (Ragi) Singh, Jeremy Millington, David Vaughan

Our corporate team has enjoyed a strong start to 2022 following an extremely active 2021. Over the last 12 months, we've been supporting our valued clients on a variety of corporate matters to ensure their continued success.

Below are just a few of our recent highlights, covering floats, secondary fundraises and mergers and acquisitions for leading UK and international businesses, spanning a range of market sectors and services.

Keen to find out how Gowling WLG can support your continued success in 2022? Speak with a member of the team for more on our corporate activity and to understand how our leading lawyers can bring clarity to complex and challenging matters, and solutions to your business needs.

We look forward to working with you in the year ahead.

IPOs

PYX Resources Limited

Acted for Pyx Resources Limited, an NSX listed Indonesian producer of premium zircon, on its dual listing on the Main Market of the LSE.

SP Angel

Acted for SP Angel (as Nomad and sole broker) on Spectral MD Holdings, Ltd's IPO and placing on the AIM market of the LSE.

Cordiant Digital

Acted for Cordiant Digital Infrastructure Limited on its Initial Public Offering (IPO) which raised gross proceeds of £370 million.

Forward Partners

Acted for Forward Partners Group plc, the London-based venture capital group, on its oversubscribed fundraise and admission to AIM.

Arrow Exploration Corp

Acted on the £8.8 million funding and AIM admission of Arrow Exploration Corp, a Canadian TSX-V listed company with oil and gas exploration and production assets in Canada and Colombia.

Foresight Sustainable Forestry Company Plc

Acted for Foresight Sustainable Forestry Company Plc on its £130 million IPO and its listing on the premium listing segment of the LSE's Main Market.

Round Hill Music Royalty Fund Limited

Acted for Round Hill Music Royalty Fund Limited on its $86.5 million placing of C Shares in conjunction with an application for the C Shares to be admitted to trading on the Official List.

HydrogenOne Capital Growth plc

Acted for HydrogenOne Capital Growth plc, a clean hydrogen-dedicated investment fund, on its successful £107.35 million IPO.

SP Angel

Acted for SP Angel Corporate Finance LLP (nomad and sole broker) on BiVictriX Therapeutics plc's admission to the AIM market of the LSE.

Molten Ventures

Acted for Molten Ventures (formally Draper Esprit) on its move to the Main Market of the LSE and the regulated market of the Irish Stock Exchange from AIM and Euronext Growth.

Canaccord Genuity

Acted for Canaccord on the dual listing on AIM of the first listed Nigerian gold mining company, Thor Explorations Limited.

Berenberg

Acted for investment bank Berenberg as global coordinator and bookrunner on Harmony Energy Income Trust's £210 million IPO on the Specialist Fund Segment of the LSE.

Investec Bank plc

Acted for Investec Bank (sole sponsor, bookrunner and financial adviser) on Pantheon Infrastructure plc's oversubscribed fundraising of £400 million through a placing and offer for subscription.

Life Science REIT

Acted for Life Science REIT on its oversubscribed IPO raising gross proceeds of £350 million consisting of a placing, offer for subscription and intermediaries offer and its admission to AIM.

Gensource Potash

Acted for Gensource Potash, the TSX listed Canadian potash development company, which was dual listing on AIM in the UK. Gensource's market capitalisation is CAN$135 million.

Castelnau Group Limited

Acted for Castelnau Group Limited, an investment fund specialising in strategic acquisitions, on its £53.05 million initial public offering.

Secondary fundraises

Urban Logistics Reit

Acted for Urban Logistics REIT on its £108.3 million fundraising by way of a placing and PrimaryBid offer.

Berenburg / Canaccord

Acted for Berenberg and Canaccord (joint bookrunners) on Greatland Gold PLC's $16 million placing subscription and retail offer.

Cenkos Securities plc

Acted for Cenkos Securities plc (nomad and joint broker) and Berenberg (joint broker) as joint bookrunners on XLMedia plc's oversubscribed £24 million placing and subscription.

Panmure Gordon / Shore Capital

Acted for Panmure Gordon and Shore Capital as joint brokers and bookrunners on Velocys PLC's £27 million placing and open offer.

Horizonte Minerals PLC

Acted on the equity fundraising element of AIM listed Horizonte's US$633m equity and debt fundraising for the Company's Araguaia nickel project in Brazil.

AssetCo

Acted for AssetCo on its over-subscribed £25 million placing undertaken by Numis Securities Limited by way of accelerated book build.

Molten Ventures

Advised Molten Ventures (formerly Draper Esprit) on its £111 million fundraising by way of a placing of new shares.

Revolution Bars

Acted for Revolution Bars Group plc (RBG) on a Firm Placing and a Placing and Open Offer to raise £21 million.

Cordiant Digital

Acted for Cordiant Digital Infrastructure on its £200 million fundraise, following on from advising on its IPO which raised £370 million.

Octopus

Acted for Octopus Renewables Infrastructure Trust on its £150 million fundraise through a placing, open offer, offer for subscription and intermediaries offer.

Jefferies International

Acted for Jefferies International (bookrunner) on SDCL Energy Efficiency Income Trust plc's open offer, placing, offer for subscription and intermediaries offer which raised £250 million.

abrdn European Logistics Income plc

Acted for abrdn on two secondary fundraises, raising gross proceeds of £19.3 million and £125 million respectively.

Takeovers

finnCap

Acted for finnCap, as financial adviser to Cambria Bidco Limited, on its recommended cash offer for AIM listed company, Cambria Automobiles plc and the cash confirmation statement given by finnCap in

GCP Student Living plc

Acted for GCP Student Living plc on a recommended cash takeover offer from Gemini Jersey JV L.P, a bidco formed by a consortium of Scape Living PLC and iQSA Holdco Limited.

Codemasters

Acted for Codemasters on its cash acquisition by Codex Games Limited, a wholly-owned subsidiary of US video games company, Electronic Arts Inc.

Bacanora Lithium plc

Acted on the £248 million cash takeover of Bacanora by one of the largest lithium compound producers in the world, Ganfeng Lithium from China.

Mergers and acquisitions

Cairngorm Capital

Acted for Cairngorm Capital on its merger of Grant & Stone and IBMG in order to create the largest builders' merchant group in the South of England.

Mobeus

Acted for UK SME investor Mobeus on its £17.7m investment in relation to the management buyout of B2B marketing company Inbox Insight.

Eelpower

Acted for leading UK energy storage company Eelpower on a £100 million joint venture partnership with specialist solar power renewable energy listed fund NextEnergy Solar Fund.

Halfords Autocentres Limited

Acted for Halfords Autocentres Limited, a subsidiary of Halfords Group plc, the UK's leading provider of motoring and cycling products and services on its acquisition of Universal Tyre and Autocentres

ReBOUND Returns

Acted for the selling shareholders on the sale of retailer returns logistics platform ReBOUND Returns to The Reconomy Group, a leading provider of technology-enabled services .

Sdiptech AB

Acted for Sdiptech AB on its acquisition of specialist EV charging point designer, manufacturer and retailer Rolec Services Ltd and One Stop Europe Ltd.

TT Electronics PLC

Acted for FTSE listed electronic components provider TT Electronics PLC helping it acquire Ferranti Technologies Limited's defence sector power and control business.

DORE Hold Co Limited

Acted for DORE Hold Co Limited, a subsidiary of Downing Renewables & Infrastructure Trust plc on the acquisition of Chalkhill Energy Life Holdings Limited.

Awards and successes

M&A league table success

Gowling WLG was ranked among the top 20 law firms globally for M&A deals completed in 2021 by Bloomberg, and 13th in the UK.

Leading the AIM market

Gowling WLG once again topped the rankings for its number of AIM clients in 2021. Adviser Rankings Limited ranked the firm No.1 for basic materials and financials and real estate clients.

Leading the way on IPOs

Research conducted by The Lawyer reveals Gowling WLG has landed the highest number of IPO main market mandates since 2015, with 25 listings on the company side and a further 21 for the sponsors.

CECI NE CONSTITUE PAS UN AVIS JURIDIQUE. L'information qui est présentée dans le site Web sous quelque forme que ce soit est fournie à titre informatif uniquement. Elle ne constitue pas un avis juridique et ne devrait pas être interprétée comme tel. Aucun utilisateur ne devrait prendre ou négliger de prendre des décisions en se fiant uniquement à ces renseignements, ni ignorer les conseils juridiques d'un professionnel ou tarder à consulter un professionnel sur la base de ce qu'il a lu dans ce site Web. Les professionnels de Gowling WLG seront heureux de discuter avec l'utilisateur des différentes options possibles concernant certaines questions juridiques précises.

Sujet(s) similaire(s) Droit des sociétés, Fusions et acquisitions, Marchés financiers, Capital d’investissement