04 May 2009
LG celebrates top spot with a flurry of fundraisings on AIM and LSE Main Market
International business law firm Lawrence Graham LLP (LG) has advised on secondary fundraisings for five clients on both AIM and the Main Market of the London Stock Exchange with an aggregate value of approximately £78 million. The fundraisings span the natural resource, energy and clean-tech sectors.
The fundraisings all completed in the same week that LG took top spot in Hemscott's, the international provider of high quality business & financial data, AIM Advisers Rankings Guide for both 'Number of AIM clients advised' and 'Number of AIM clients by Market Capitalisation'.
LG advised AIM listed KSK Power Ventur Plc, the Indian power project development company, which raised £32.5 million by way of an institutional placing carried out by Arden Partners plc.
LG advised energy technology client, Zenergy Power plc, on its £9.5 million placing. Arranged by Panmure Gordon & Co and Mirabaud Securities, the placing will provide Zenergy with additional working capital to expand its business activities in the United States in addition to ongoing research and development activities in superconductor technologies.
LG also advised Golden Prospect Precious Metals Limited on its £7.6 million placing with institutional and other investors as well as advising long standing client Kalahari Minerals on its £17.9 million equity fundraising. The Kalahari Minerals placing was carried out by Mirabaud Securities and Ambrian Partners.
At the same time LG advised Indian oil and gas exploration and production client, Hardy Oil & Gas plc ("Hardy") on its £10.8 million placing on the Official List of the London Stock Exchange. The placing was also carried out by Arden Partners plc. Hardy moved from AIM to the LSE Main Market in February 2008.
The LG Corporate team advising KSK, Zenergy and Hardy was led by corporate finance partner, Tom Nicholls, together with assistants Claire Steel, Rebecca Gordon and Jenna Beever. Partner Jeffrey Elway led the team advising Golden Prospect.
Tom Nicholls said: “We are pleased to see this level of continued activity of companies raising new funds following the quartet of AIM fundraisings we advised on last month. This activity is encouraging in the current market, particularly in the international natural resources sector. We are delighted to now be ranked as leading adviser on AIM both by a number of clients and overall market capitalisation, particularly as this has been achieved through a number of recent new client wins."