Appleby, one of the world’s largest providers of offshore legal, fiduciary and administration services has closed two major Asian based IPO’s and listings on the London Stock Exchange’s AIM market and a further UK IPO and listing on the LSE’s Specialist Funds Market and the Channel Islands Stock Exchange.
On 4th December 2013 Appleby client SyQic was admitted to the AIM market with gross placing proceeds of £2.45m. SyQic is a Singapore and Malaysia based provider of live TV and video content over the internet for mobile phones and tablets, and the placing was fully oversubscribed.
Appleby also advised Chinese e-commerce operator JQW on its IPO, selling 10% of its stock and raising gross proceeds of £6.7m, and listing on the AIM market. JQW provides small and medium sized Chinese businesses with an online platform to advertise their products and services to other businesses. JQW will use the funds to expand internationally.
The third Appleby transaction was for Tritax, the commercial property fund manager, with a £200m flotation of the first listed “Big Box” UK real estate investment trust (REIT). The REIT was listed on the Channel Island Stock Exchange and the London Stock Exchanges’ Specialist Funds Market and the transaction completed on 9 December 2013.
The so called Big Box units are warehouses in excess of 500,000 sq ft. Demand is strong as retailers look for these mega spaces in which to base their internet distribution operations.
Appleby advised all three clients on all aspects of the successful listings and placements which were fully subscribed on each of the markets.
Commenting on the three transactions Andrew Weaver, Partner, Head of the Funds and Investment Services team in Jersey said: “We are delighted to have acted in all three of these successful London and Channel Islands market listings. The simultaneous nature of the deals not only demonstrates the strength of Appleby’s equity capital markets practice but the value of AIM and the specialist markets for both fast moving Asian businesses as well as high quality niche UK businesses looking to raise capital for expansion. We are delighted to have advised all three successful offerings and listings.”
Category: Finance & Business