Equity capital markets – small-mid cap in London


CMS comes recommended in the equity capital markets (ECM) space for being ‘proactive, efficient and pragmatic in delivering advice’. The large-scale team is noted for its strong UK, European and Asian coverage as well as its robust showing with regard to US securities advice, owing to its integrated securities law capability. The group’s deal flow sees the team advising issuers listed on both the main market of the London Stock Exchange (LSE) and AIM, including a number FTSE 250 companies. Practice head Alasdair Steele frequently advises banks and issuers on both main market and AIM matters, including trading companies and listed funds and both domestic UK and overseas issuers. Jack Shepherd is praised for his ‘pragmatic, commercial and sensible advice.’

Responsables de la pratique:

Alasdair Steele

Autres avocats clés:

James Parkes; Jack Shepherd

Les références

‘CMS have delivered a great service, based on their significant experience and understanding of market practice. In my experience, they have always been proactive, efficient and pragmatic in delivering their advice.’

Completely results focussed and pragmatic in their approach. Deadlines are met, and the work is conducted efficiently. We very much regard them as trusted advisors and get a lot of value from informally seeking their opinion as well as the value we get from more structured engagements.’

‘Having worked with Jack Shepherd and Alasdair Steele in recent times, their leading position as UK ECM advisers means that they are at the forefront of market practice. This allows them to leverage their experience from a range of transactions and apply this to the specifics of the matter at hand. In working with them, I have found them to offer pragmatic, commercial and sensible advice.’

Principaux clients

ActiveOps plc

XLMedia plc

Big Yellow Storage plc

Investec Bank plc

RWS Holdings plc

M&C Saatchi plc

Numis Securities

Peel Hunt

Liberum Securites

Stifel Nicolaus Europe Limited

Strix Group Plc

SRT Marine Systems Plc

Smart Metering Systems

Celadon Pharmaceuticals plc

Tortilla Mexican Grill plc

Cenkos Securities

Finsbury Food Group plc

Panmure Gordon

Principaux dossiers

  • Advised Celadon Pharmaceuticals on its £102m AIM-IPO via a reverse takeover into Summerway Capital Plc.
  • Advised Strix Group Plc on an equity fundraising by way of an institutional placing implemented via an accelerated bookbuild process.
  • Advised Investec, as NOMAD and joint broker, and Shore Capital, as joint broker, on Eagle Eye Solutions Group plc’s £7m institutional placing to part fund its EUR 38m acquisition of Untie Nots.

DLA Piper

Noted for the depth of its expertise in public M&A and US securities law, DLA Piper’s ECM and public company practice is equally adept on both underwriter and issuer-side mandates, acting for companies of various sizes - from AIM 50 into the FTSE 250 - on the main market. The practice group’s recent deal flow includes a number of AIM IPOs, AIM reverse-takeovers, secondary fundraisings across the primary markets, and public takeovers. UK ECM leads Martin Penn and Robert Newman jointly chair the practice, while Karin Kirschner regularly represents issuers, selling shareholders and underwriters on IPOs, rights issues, placings, block trades and demergers.

Responsables de la pratique:

Martin Penn; Robert Newman

Autres avocats clés:

Karin Kirschner

Principaux clients

Aptitude Software Group plc

Medica Group plc

Watkin Jones plc

Eurasia Mining

Accesso Technology Group plc

Knights Group plc

Science Group

Staffline Group plc

Safestyle UK plc

Fusion Antibodies plc

Chamberlin plc

i-Nexus Global plc

Mothercare plc

Numis Corporation plc


Canaccord Genuity

Singer Capital Markets

Cenkos Securities

Abry Partners

Equistone Partners

Principaux dossiers

  • Advising on the IPO of Aurrigo International plc onto AIM admission taking place in September 2022.
  • Acted for Science Group on the public takeover of TP Group plc by way of a scheme of arrangement for £17.53 million.
  • Acted for SPARK Advisory Partners Limited and SP Angel Corporate Finance LLP in their respective roles as Nomad and Broker, in relation to the reverse takeover of Fiinu plc and a related placing raising worth £8 million.

Norton Rose Fulbright

Norton Rose Fulbright draws praise from clients for its ‘strong grasp of the commercial implications of legal points and speed to act on key points’. The London-based ECM practice advises on the entire range of equity-related transactions for a litany of issuers, from FTSE 100 to AIM, as well as being particularly strong in London listed funds. The team is also noted as an adviser to bookrunners in the space, as well as for its deep sector expertise in real estate-related transactions. Raj Karia heads up the cross-disciplinary corporate, M&A and securities practice. The highly experienced Richard Sheen is well known for his focus on equity capital markets and investment fund work, while Fiona Millington‘s broad practice sees her advising issuers and investment banks on IPOs, equity fund raisings, sponsor transactions for listed companies, and public M&A. Clementine Hogarth  advises listed companies and financial investors on the entire gamut of ECM transactions.


Responsables de la pratique:

Raj Karia

Autres avocats clés:

Richard Sheen; Fiona Millington; Clementine Hogarth; Alexander Green

Les références

‘Strong grasp of the commercial implications of legal points and speed to act on key points when needed is good.’

‘Fiona Millington displays quick decision-making and actions.’

‘NRF’s corporate practice delivers good service, is reliable and can offer a breadth of advice across many jurisdictions.’

Principaux clients

Numis Securities Limited

Peel Hunt

Canaccord Genuity Limited

Cantor Fitzgerald

Mortgage Advice Bureau Holdings

Grant Thornton

Investec Bank plc

Tullow Oil plc

Taylor Maritime Investments Ltd

J.P. Morgan Securities plc.

Goldman Sachs International



Warehouses de Pauw (WDP)

Taleem Management Services

Xior Student Housing


Principaux dossiers

  • Advised Numis Securities on the sell down by the Arab Petroleum Investments Corporation of part of its residual shareholding in Ashtead Technology Holdings Plc  representing approximately 6% of the company by way of an accelerated bookbuild block trade.
  • Advised Canaccord Genuity, Cantor Fitzgerald and Berenberg as joint bookrunners to Yellow Cake plc on a $75 million placing for Yellow Cake plc.
  • Advised Mortgage Advice Bureau plc on the acquisition of 75% of the Fluent Money Group for c.£73m.

Pinsent Masons LLP

Regarded as ‘a top tier firm within the capital markets area’ possessing ‘significant experience in small/mid-cap M&A and ECM’, Pinsent Masons LLP ‘s full-service practice has a robust track record for advising on the full spectrum of UK and cross-border corporate finance transactions on behalf of corporates, investment banks, private equity houses and financial intermediaries. Practice head Julian Stanier - praised for his accessibility as well as his 'well-founded and reliable advice’ - advises issuers and investment banks on IPOs and equity fundraisings. Gareth Jones - a key name for IPOs, secondary offerings and public M&A - also regularly advises on the ongoing obligations of listed companies. Legal director Adam Cain is a further key contact.

Responsables de la pratique:

Julian Stanier

Autres avocats clés:

Gareth Jones; Adam Cain

Les références

‘Great overall strength and different team members able to provide difference experiences and inputs and give us the advice we need.’

‘Very responsive and clear.’

‘Very professional. A top-tier firm within the capital markets arena.’

Principaux clients

Facilities by ADF plc

Strip Tinning Holdings plc

Ikigai Ventures Limited

Fintech Asia Limited

Cenkos Securities plc

Craneware Plc

Liberum Capital Limited

Canaccord Genuity Limited

Singer Capital Markets Limited

Induction Healthcare Group plc

4D Pharma

SP Angel Corporate Finance LLP

Springfield Properties plc

Angle plc

Jersey Oil & Gas plc

WH Ireland

Numis Securities Limited

Evgen Pharma plc

Panmure Gordon (UK) Limited

PayPoint plc

Delek Group

Beeks Financial Cloud Group plc

N.M. Rothschild & Sons Ltd

600 Group plc

AB Dynamics plc

Afentra plc

Alumasc Group plc

Best of the Best plc

Blancco Technology Group plc

Bowleven plc

Brown (N) Group plc

Cambridge Cognition Holdings plc

Celtic plc

China Nonferrous Gold Limited

Coro Energy plc

Driver Group plc

EMIS Group plc

Enwell Energy plc

Evgen Pharma plc

Filtronic plc

Fire Angle Safety Technology Group plc

Genedrive plc

Great Western Mining Corporation plc

IDOX plc

Iomart Group plc

Jade Road Investments Limited

Kromek Group plc

Lansdowne Oil & Gas plc

LoopUp Group plc

Marechale Capital plc

Minoan Group plc

Oncimmune Holdings plc

Parity Group plc

Pebble Beach Systems Group plc

Petro Matad Limited

Portmeirion Group plc

Rockhopper Exploration plc

Rotala plc

Safestyle UK plc

Scirocco Energy plc

Shanta Gold Limited

Star Phoenix Group Limited

STM Group plc

Surgical Innovations Group plc

Thorpe (F.W.) plc

Trinity Exploration & Production plc

Wentworth Resources plc

Wishbone Gold plc

XLMedia plc

Seraphine Group plc

Prax Group plc

Principaux dossiers

  • Advised Ithaca Energy plc on its £2.5 billion IPO and premium listing on the main market of the London Stock Exchange, with gross proceeds of £262.5 million.
  • Advised N.M. Rothschild & Sons Ltd., as sponsor, and Numis Securities Limited and Peel Hunt LLP, as joint bookrunners, on a £187 million firm placing and placing and open offer by Marshalls plc to part-fund the £535 million acquisition by Marshalls of Marley Group plc
  • Advised PayPoint plc on its £83 million recommended acquisition of Appreciate Group plc.

Stephenson Harwood

Stephenson Harwood's ‘excellent sector and market knowledge’ makes it a key port of call for equity fundraisings and stock exchange transactions, combining the expertise of the UK-based team with the firm’s presence in Singapore, Hong Kong and Dubai to act on the full spectrum of cross-border work in the space. IPO expertise is another core feature of the team, while the group’s recent deal flow also includes private acquisitions of AIM-listed companies and public M&A transactions. AIM market expert Tom Nicholls leads a team which notably includes David Dowding, who is experienced at advising corporates, investment banks and brokers on main market and AIM IPOs and secondary fundraisings.

Responsables de la pratique:

Tom Nicholls

Autres avocats clés:

David Dowding; Tom Page

Les références

‘The team were very responsive and proactive when engaging on a proposed transaction. They demonstrated excellent sector and market knowledge and I would highly recommend them.’

‘Incredibly easy to speak to and have practical discussions on all aspects of a transaction. They are highly capable at breaking down technical legal matters into simple terms whilst taking a commercial approach when applying their knowledge.’

‘Great people, professional and fun to work with.’

Principaux clients

Aberdeen UK Tracker Trust

Acacia Pharma Group plc

Acorn Income Fund Limited

Akur Limited

Allianz Global Investors GmbH

Allianz Technology Trust PLC

Alternative Asset Opportunities PCC Limited

Alternative Credit Investments plc

Alternative Liquidity Fund Limited

Alvarium RE Limited

Alvarium Securities Limited

Aptamer Group plc

APQ Global

Arden Partners plc

Aseana Properties Limited

Ashoka India Equity Investment Trust plc

Atlantis Japan Growth Fund Limited

Augmentum Capital LLP

Augmentum Fintech plc

AVI Japan Opportunity Trust plc

Base Resources Limited

BB Healthcare Trust plc

Big Society Capital Limited



BlackRock Income & Growth Investment Trust plc

BlackRock Smaller Companies Trust plc

BlackRock Throgmorton Trust plc

Camper & Nicholsons Marina Investments Limited

Canaccord Genuity Limited

Cantor Fitzgerald Europe

CC Japan Income & Growth Trust plc

Cenkos Securities plc

City of London Investment Trust plc

Corevestis Portfolio Management GmbH

Coupland Cardiff Asset Management

Development Partners International LLP

Dr. Peters Holding GmbH

Dragon Capital Limited

Draper Esprit VCT plc

easyHotel plc

Eighteen East Capital Limited

E-Therapeutics Plc

European Opportunities Trust plc

European Real Estate Investment Trust Limited

Fair Oaks Income Limited

finnCap Limited

Focusrite plc

GCP Infrastructure Investments Limited

Geiger Counter Limited

Gore Street Capital Limited

Gore Street Energy Storage Fund plc

Gravis Advisory Limited

Gravis Capital Management Limited

Grit Real Estate Income Group Limited

Gulf Investment Fund plc

Henderson Global Trust plc

Henderson International Income Trust Fund

Henderson Value Trust

Hipgnosis Song Management Limited

Home REIT plc

Hotel Chocolat plc

Impax Asset Management Group plc

Invesco Fund Managers Limited

Investec Bank plc

Jefferies International Limited

J.P. Morgan Cazenove

Jupiter Emerging & Frontier Trust plc

Jupiter UK Growth Investment Trust PLC

Jupiter Green Investment Trust plc

Liberum Capital Limited

Lowland Investment Company plc


Kudu Investment Management, LLC

Landore Resources Limited

Manchester & London Investment Trust plc

Manolete Partners plc

MIGO Opportunities Trust PLC

Mobius Capital Partners LLP

Mobius Investment Trust plc

Nichols plc

Novacyt SA

Numis Securities

Oakley Capital Investments Limited

Oncimmune Ltd

Panmure Gordon (UK) Limited

Peel Hunt LLP

PMM Partners

Premier Miton Global Renewables Trust plc

Premier Miton Investors

Qatar Investment Fund plc

Sancus Lending Group Limited

Scape Living plc

Scape Student Living Limited

Schroder British Opportunities Trust plc

Schroder BSC Social Impact Trust plc

Schroder Investment Management Limited

Schroder Real Estate Investment Management Limited

Schroder UK Public Private Trust plc

Secured Income Fund plc

Seraphim Space Investment Trust plc

Seraphim Space (Manager) LLP

Shield Therapeutics plc

Shore Capital and Corporate Limited

Singer Capital Markets

SP Angel

Stifel Nicolaus Europe Limited

Stockdale Securities Limited

Strand Hanson Limited

Strategic Equity Capital plc

Sturgeon Capital Limited

SuperSeed Capital Limited

SuperSeed Ventures LLP

The Bauhaus Investment Trust plc

The Bankers Investment Trust PLC

The Brunner Investment Trust PLC

The Diverse Income Trust plc

The Merchants Trust PLC

Victory Park Capital Advisors

Vietnam Enterprise Investments Limited

Vietnam Holding Limited

WH Ireland

Whiteoak Capital Group

Winterflood Securities Limited

Principaux dossiers

  • Advised WindAcre Partnership LLC on its participation in the acquisition of Nielsen Holdings plc by way of a UK-court approved scheme of arrangement.
  • Advised SP Angel Corporate Finance LLP, sole Nomad and Broker, on the AIM IPO and £8 million fundraise of Hercules Site Services.
  • Acted for LXi REIT plc on its recommended £3.9 billion merger with Secure Income REIT plc.

Travers Smith LLP

Acting on behalf of a stellar lineup of issuers, financial institutions, management, selling shareholders and cornerstone investors, Travers Smith LLP‘s ECM work spans IPOs, secondary issues and other transactional matters – including class 1 transactions, reverse takeovers, block trades and tender offers. The team particularly stands out for its significant long-standing relationships in the London-based investment bank market. Andrew Gillen leads the practice alongside head of corporate Spencer Summerfield. Experienced ECM practitioner Richard Spedding frequently represents public companies, investment banks, hedge funds and other financial intermediaries, whilst Adrian West is known for his work on high-profile IPOs. Elsewhere in the group, Tom Coulter maintains his broad ECM practice.

Responsables de la pratique:

Andrew Gillen; Spencer Summerfield

Autres avocats clés:

Richard Spedding; Adrian West; Tom Coulter

Principaux clients

Foresight Group


McColl’s Retail Group

Distribution Finance Capital







Peel Hunt



Arden Partners

Deutsche Bank

J.P Morgan Cazenove

Principaux dossiers

Addleshaw Goddard

Fielding a team of ‘top quality lawyers for the mid-market’, Addleshaw Goddard is well known in the market for its ECM work, including IPOs and secondary fundraisings. As advisors to the takeovers regulator, the team is uniquely well-placed to advise on public M&A transactions, for which it has extensive expertise. Practice head Nick Pearey is supported by experienced ECM lawyer Giles Distin and mid-market public M&A specialist Simon Wood, the latter of whom is praised as a ‘go-to public takeovers lawyer’.

Responsables de la pratique:

Nick Pearey

Autres avocats clés:

Giles Distin; Simon Wood

Les références

‘Top quality lawyers for the mid-market. Genuinely partner-led.’

‘Simon Wood is my go-to public takeovers lawyer. Experienced and commercial, always looking for solutions rather than problems, takes responsibility and drives things forward.’

‘Straightforward, pragmatic advice’

Principaux clients

AdvancedAdvT Limited

AlGihaz Holding Company

Allenby Capital

Alpha Financial Markets Consulting plc


B.P. Marsh & Partners plc

Brand Architekts plc

Curtis Banks Group plc

Fenchurch Advisory Partners LLP


genedrive plc

GENinCode plc

Investec Bank

J.P. Morgan Securities

K3 Capital Group plc

LBG Media plc

Liberum Capital

musicMagpie plc

NAHL Group plc

Peel Hunt

Rothermere Continuation Limited

Sanne Group plc

Shore Capital & Corporate

Singer Capital Markets

Stifel Nicolaus Europe Limited (Stifel)

Team17 Group plc

Yourgene Health plc

Principaux dossiers

  • Advised Rothermere Continuation Limited on its successful £3bn reorganisation and takeover offer for Daily Mail and General Trust plc.
  • Advised Sanne Group plc on competing takeover offers from Cinven and The Apex Group, culmination in a recommended takeover offer being made by Apex.
  • Advised AdvancedAdvT on its hostile £300m all-share takeover offer for AIM-listed M&C Saatchi.


Demonstrating ‘really strong credentials in the ECM space’, the team at Ashurst maintains a broad practice that spans a full range of ECM transactions, particularly de-mergers where they act on behalf of issuers, shareholders and large investment banks. US securities advice is another forte of the practice group, anchored in large part by Stuart Rubin - a ‘very trusted pair of hands for anything US securities law related to ECM transactions’. He co-leads the team with Nicholas Holmes and Simon Bullock. Holmes is a well regarded figure for all aspects of ECM transactions, while the ‘excellent’ Bullock has over 15 years of experience advising on equity capital market deals, including IPOs, rights issues and equity placings.

Responsables de la pratique:

Nicholas Holmes; Simon Bullock; Stuart Rubin

Autres avocats clés:

Jeffrey Johnson

Les références

‘Really strong credentials in the ECM space and they’ve become one of our trusted advisers.’

‘Simon Bullock is very responsive, attentive and really makes the effort to understand the client’s position and what really matters to them.

‘Stuart Rubin is phenomenal. Very trusted pair of hands for anything US securities law related to ECM transactions. We feel well looked after when Stuart is advising us.’

Principaux clients

Goldman Sachs

Morgan Stanley




Bank of America Merrill Lynch




Credit Suisse


Tritax EuroBox


J.P. Morgan

Advanced Biofuels Solutions

Peel Hunt

Deutsche Bank


Panmure Gordon


Principaux dossiers

  • Advised Tritax EuroBox plc in relation to the entry into a €144m related party transaction with Logistics Capital Partners.
  • Advised Peel Hunt LLP, as sponsor, in relation to the class 1 disposal by Essentra plc of its filters business division to Frank Acquisition Four Limited, a wholly owned subsidiary of Centaury Management Limited for an enterprise value of approximately £262.1 million
  • Advised Stifel, Peel Hunt and Tennyson as joint bookrunners on Diversified Energy Company PLC’s US$163.0 million equity fundraising.

Bryan Cave Leighton Paisner

Bryan Cave Leighton Paisner‘s ‘responsive and solution orientated’ team is highly experienced in the entire spectrum of equity capital markets work, including IPOs, follow-on listing and public M&A – in addition to fully integrated US securities law advice. Richard Werner  and Tom Bacon jointly lead the department following the departure of former practice head Alexander Keepin to Simmons & Simmons in February 2023.

Responsables de la pratique:

Richard Werner; Tom Bacon

Autres avocats clés:

Lara Rush

Les références

‘Responsive, solution orientated’

‘Tom Bacon is a rising and promising figure – very engaged and solution-orientated.’

‘Enjoyable to work with – partner engagement throughout transactions, able to quickly and efficiently turn around work, commercial approach and a good understanding of our business and the risks faced’

Principaux clients

Liberum Capital

Pantheon Resources

Peel Hunt

Trident Royalties

Stifel Nicolaus Europe

Ncondezi Energy

FRP Advisory

Kape Technologies

Secure Income REIT

i (x) Net Zero Plc

Aferian Plc

San Leon Energy

BMO Capital Markets

H&P Advisory Limited

Greatland Gold Plc

SDX Energy Plc

Panmure Gordon (UK) Limited

Playtech Plc

Raven Property Group

Plus 500

Redde Northgate

Industrials REIT

Axiom European Financial Debt Fund

Principaux dossiers

  • Advised Secure Income REIT PLC on its recommended merger with LXi REIT PLC. The transaction created a REIT with a combined valuation of £3.9 billion.
  • Advised Kape Technologies plc on its US$222.5m placing and Primary Bid retail offer.
  • Advised Raven Property Group Limited on the divestment of its Russian business to Prestino Investments Ltd.

Eversheds Sutherland (International) LLP

‘Highly collaborative and extremely responsive‘, Eversheds Sutherland (International) LLP advises corporate entities, brokers and investment funds on a range of domestic and cross-border matters, namely main market and AIM transactions that encompass potential IPOs, reverse takeovers, fundraisings, and M&A deals – both public and private. Corporate head Richard Moulton co-leads the team with Stephen Nash, a ‘very pragmatic‘ adviser who is a key name for all things ECM and public company takeover transactions. Other key figures include Alistair Cree, based in Manchester, and Mark Roe, whose advice spans public company and corporate governance advice. All named lawyers are based in London unless specified otherwise.

Responsables de la pratique:

Stephen Nash; Richard Moulton

Autres avocats clés:

Alistair Cree; Mark Roe

Les références

‘The Eversheds team is highly collaborative and extremely responsive, and present an extremely credible and professional face to the board of directors.’

‘Stephen Nash is extremely focused on client needs and is very pragmatic.’

Principaux clients

Lookers plc

Norcros plc

Integrafin Holdings plc

NewRiver Retail plc

NBrown plc

Boohoo plc

Ilika plc

OnTheMarket plc

ProCook plc

Smoove plc

Revolution Beauty plc

Persimmon plc

Morses Club plc

Numis Securities Limited

Investec Bank plc

Principaux dossiers


Praised for its ‘exceptional market knowledge’, the team at Fieldfisher is noted for its capability to handle complex, cross-border work spanning multiple jurisdictions - particularly in the energy and natural resources sectors. Practice head Brad Isaac is a key name to note for such mandates, and also has considerable experience advising on ECM transactions related to healthcare and life sciences. Edward Westhead is recommended for his tech sector acumen, while Dominic Gurney-Champion is highly regarded as ‘a superb professional’.

Responsables de la pratique:

Brad Isaac

Autres avocats clés:

Dominic Gurney-Champion; Edward Westhead

Les références

‘They did an excellent job in marshalling what needed to be done – very efficiently, with minimal fuss and being very proactive and also reactive at the same time. It was an excellent team effort, even dealing efficiently when a key junior team member moved to another firm during the process. Another junior team member took over rather seamlessly.’

‘Dominic Gurney-Champion is our main contact, a superb professional and a joy to work with – very measured, experienced and good fun too. One of the best lawyers I have worked with in some 20 years as an LSE CFO.

‘Their market knowledge is exceptional. We have built a long-term relationship with the team. We regularly find that they remember more about certain corporate matters from our history than we do! Super knowledgeable and helpful team all round.’

Principaux clients

Abingdon Health PLC

Access Intelligence PLC


Amur Minerals Corporation

Ascent Resources PLC

Atalaya Mining PLC

ATOME Energy plc

Barkby Group plc

Beowulf Mining PLC

Best of the British PLC

Byotrol PLC

Central Asia Metals PLC

Checkit PLC

Cleantech Lithium

Cornish Metals Inc.

Craven House Capital PLC

CT Automotive Group plc

Devolver Digital, Inc.

Echo Energy PLC

eEnergy Group PLC

Ensilica PLC


Gelion PLC

GlobalData PLC

Gusbourne PLC

Harland & Wolff Group Holdings plc

Haydale Graphene Industries PLC

Hurricane Energy PLC

Independent Oil and Gas PLC

InnovaDerma plc

Inspiration Healthcare Group PLC

Itaconix PLC

Jaywing PLC

KEFI Gold and Copper plc

Kodal Minerals PLC


Live Company Group PLC

Made Tech Group plc

Marlowe PLC

Merit Group plc

Molecular Energies PLC

Nu-Oil and Gas PLC

Online Blockchain PLC

Pires Investments PLC

Property Franchise Group (The) PLC

Public Policy Holding Company Inc.

Restore PLC

Saietta Group plc

San Leon Energy PLC

Savannah Resources plc

Seeing Machines Ltd

SigmaRoc PLC

Synairgen PLC

Tristel PLC

Velocity Composites PLC

Versarien PLC

Wynnstay Properties PLC

Allenby Capital

Canaccord Genuity

Cenkos Securities

Cormak Securities Inc.

Dowgate Capital


Grant Thornton

Joh. Berenberg, Gossler & Co. KG

Liberum Capital Limited

Numis Securities Limited

Panmure Gordon (UK) Limited

Peel Hunt LLP

Shore Capital

Singer Capital Markets

SP Angel Corporate Finance LLP

Stifel Nicolaus Europe Limited

Strand Hanson Limited

Tamesis Partners LLP

Tennyson Securities Limited

WH Ireland

Zeus Capital Limited

Principaux dossiers

  • Actig for AIM-quoted Marlowe plc on its acquisition strategy. Marlowe is a support services group focused on acquiring and developing companies that provide critical asset maintenance services.
  • Advised CleanTech Lithium plc on its initial public offering on AIM.
  • Acted for Amur Minerals Corporation on the sale of its wholly owned subsidiary, AO Kun-Manie, to a company controlled by Vladislav Sviblov for a total consideration of US$105 million.

Gowling WLG

Gowling WLG’s ECM offering combines a strong funds practice with a separate team that advises on both Main Market and AIM transactions, with the latter having key experience of acting on landmark IPOs and major transactions in the space. Other core specialisms include technology mandates, cross-border matters and work on behalf of mining companies listing on AIM. Practice head Charles Bond has over 30 years of ECM experience across a wide variety of sectors. Jeffrey Elway - a 'very knowledgeable partner with a wealth of experience' - is also recommended.

Responsables de la pratique:

Charles Bond

Autres avocats clés:

Jeffrey Elway

Les références

‘Good client service.’

‘Deep knowledge and very commercial.’

‘The team offers a depth of experience in small-cap equity capital markets, whether that be in IPOs, fundraisings or M&A. The experience is much broader based across the team compared to many of its peers, yet fees remain competitive.’

Principaux clients

Aurrigo International PLC

Revolution Bars Group plc

Horizonte Minerals Plc

Canaccord Genuity Limited

Sprott Capital Partners LP

Shore Capital

Baden Hill

Andrada Mining Limited (formally AfriTin Mining Limited)

Cenkos Securities plc

H&T Group plc

Liberum Capital Limited

Hummingbird Resources plc

Peterhouse Capital Limited

Strand Hansen Limited

Kanabo Group plc

Cordiant Digital Infrastructure Limited

Peel Hunt LLP

Pyx Resources Limited

Ruffer Investment Company Ltd

Foresight Sustainable Forestry Company plc

Alvarium Securities Limited

Jefferies International Limited

abrdn European Logistics Income plc (formerly Aberdeen Standard European Logistics Income PLC)

Dowgate Capital

Principaux dossiers

  • Advised Aurrigo International PLC on its successful placing and admission to trading on AIM.
  • Advised the dual listed (AIM/TSX) mining company Horizonte Minerals Plc on a conditional raise of US$80 million for the further development of its Araguaia nickel project in Brazil.
  • Advised Canaccord Genuity Limited and Sprott as joint bookrunners on mining development and exploration company Greatland Gold PLC’s US$35 million cashbox placing.

K&L Gates LLP

Praised for being ‘very attentive to client needs’ and ‘very knowledgeable on subject matter’, K&L Gates LLP is a key name in the marketplace for AIM transactions, advising complicated corporate structures, international tax and securities issues, and multiple international stock exchanges. Other defining characteristics of the practice include its focus on international cross-border work and strength advising US companies, alongside deep sector expertise in energy, mining, financial services, fintech, technology, life sciences, and real estate. Practice leader Paul Tetlow has extensive experience acting for companies, sponsors, NOMADs and brokers – particularly in the energy sector. James Green is another important contact within the group for energy and natural resources-driven work.

Responsables de la pratique:

Paul Tetlow

Autres avocats clés:

James Green

Les références

‘Very attentive to client needs. Very knowledgeable on the subject matter.’

‘James Green has been our counsel for the last 7 years, and he has always delivered.’

‘Extremely commercial, very easy to work with and brilliant service.’

Principaux clients

Dianomi Group PLC

Longboat Energy PLC

Panmure Gordon (UK) Limited

CML Microsystems PLC

finnCap Ltd

ProPhotonix Ltd

Cenkos Securities plc

Singer Capital Markets

Stifel Nicolaus Europe Limited

Amaroq Minerals Limited

Fonix Mobile plc

Deltic Energy plc

Peel Hunt LLP

Canaccord Genuity Limited

Axonics, Inc.

Principaux dossiers

  • Advised Cenkos on the admission to AIM on Neometals Ltd.
  • Advised Amaroq Minerals Ltd on its placing and subscription to raise £30 million and its listing on the Nasdaq First North Growth Market in Iceland.
  • Advised long-standing client Deltic Energy PLC on its placing and open offer.

Macfarlanes LLP

Particularly noted for its work with investment companies such as REITs, Macfarlanes LLP has a broad ECM practice with demonstrable experience across all manner of transactions.  The team is headed up by seasoned practitioner Richard Burrows, who is especially recommended for his expertise in tech-oriented deals. Other names to note include Harry Coghill and Mark Slade, both of whom have significant experience in public offerings. Former practice co-head Robert Boyle is no longer at the firm.

Responsables de la pratique:

Richard Burrows

Autres avocats clés:

Harry Coghill; Mark Slade

Les références

‘The Macfarlanes team consistently provides excellent advice in a timely manner.’

Principaux clients

DX (Group) plc

Supermarket Income REIT plc

Independent Living REIT Plc

Dr J. Patrick Kennedy

NortonLifeLock (now rebranded as Gen Digital)

Tulip Oil Holding

Stramongate S.A

XPS Group plc

JD Wetherspoon

Principaux dossiers

Osborne Clarke LLP

Osborne Clarke LLP’s capital markets offering has an extensive track record in AIM transactions, and is well-versed at acting on a full range of mid-market deals, with noted expertise in IPOs, secondary offerings and public M&A. Financial services, technology, media & communications, life sciences, and healthcare and energy are among the sub-sector expertises of the practice. Head of equity capital markets Jonathan King has over 25 years of experience advising on all forms of public company equity financings and public M&A transactions. Ed Nisbet has experience advising public companies and investment banks on all forms of corporate finance and public M&A transactions. Seasoned financial services partner Mark Wesker is also recommended.

Responsables de la pratique:

Jonathan King

Autres avocats clés:

Mark Wesker; Rebecca Gordon; Ed Nisbet; Oliver Woods

Les références

‘Osborne Clarke has provided a full range of corporate legal services to the company for well over ten years. During this time, the OC team has consistently displayed the highest level of client service, providing excellent and relevant advice on a timely basis.’

‘Mark Wesker manages the relationship with the company; while his specialisation is strategic transactions (M&A, funding, etc), Mark is also an excellent generalist and frequently gives helpful and relevant advice without the need to involve specialist colleagues.’

‘Mark’s advice stands out as being both legally accurate and commercially focused. He takes the time to understand the business context and management issues and objectives.’

Principaux clients

Cenkos Securities plc

Investec Bank plc

Joh. Berenberg, Gossler & Co. KG, London branch

Liberum Capital Limited

Next Fifteen Communications plc

Elixirr International plc

Creo Medical Group plc

Marshall Motors Holdings plc

In The Style Group plc

Topps Tiles plc

Invinity Energy Systems plc

Actual Experience Plc

Singer Capital Markets

WG Partners LLP

Principaux dossiers

  • Advising Actual Experience plc on its £3.5m fundraise.
  • Advising Singer Capital Markets in relation to the £5m equity fundraise and retail offer by Zinc Media to finance the acquisition of The Edge Picture Co.
  • Advising WG Partners LLP, Panmure Gordon (UK) Limited and Stifel Nicolaus Europe Limited on the successful £34.3m fundraise for Redx Pharma plc.

Bird & Bird LLP

The international capital markets practice group at Bird & Bird LLP benefits from the reach of the wider international corporate group, advising on a wide array of cross-jurisdictional capital markets transactions, including listings on both AIM and the Main Market of the LSE. IPOs, secondary fundraisings, public and private takeovers, and restructurings are key specialisms of the ‘very professional team’. The practice is headed up by Clive Hopewell, who focuses on equity financings and IPOs and is noted as a ‘fantastic operator, who as well as being a great lawyer is also very commercial’.


Responsables de la pratique:

Clive Hopewell

Autres avocats clés:

Simon Allport; Nick O’Donnell

Les références

‘This team provides a first-class service, are very proactive and think about potential issues and how to overcome them before they actually become larger issues.’

‘Clive Hopewell is a fantastic operator who as well as being a great lawyer is also very commercial as well.’

‘We found Bird & Bird very responsive, and they were able to provide us with the appropriate person to engage with us on each occasion.’

Principaux clients

TransGlobe Energy Corporation

Phoenix Asset Management Partners

Gamma Communications PLC

Frontier Development PLC

WH Ireland Limited

Flylogix Limited

Gneiss Energy Limited

Cloudbreak Discovery PLC

Tekcapital PLC

DP Poland PLC

The Stanley Gibbons Group PLC

Powerhouse Energy Group PLC

JKX Oil & Gas PLC

Joh. Berenberg Gossler & Co KG

Asiamet Resources Ltd

Hannam & Partners

Director Plus PLC

Griffin Mining Ltd

Harvest Minerals Limited

SP Angel Corporate Finance LLP

Jangada Mines PLC

Gama Aviation PLC

Harvest Minerals Ltd

Mothercare PLC

Beowulf Mining PLC

Location Sciences Group PLC


Ergomed plc

Tirupati Graphite PLC

Virtu Capital Ltd

Westminster Group PLC

Principaux dossiers

  • Advised AIM-, NASDAQ- and TSX -listed TransGlobe Energy Corporation on its merger with LSE Main Market and NYSE-listed VAALCO Energy, Inc. in a share-for-share strategic business combination transaction valued at US$307 million.
  • Advised the broker, Berenberg, on a placing which raised £78.6m for AIM-listed Team17.
  • Advised DP Poland PLC on its equity fundraising through a placing and subscription. £2.6 million was raised through the subscription for 31.9 million shares at a price of 8.00 pence each by Luxembourg-based investment firm M&M Holdings Sarl.

Brown Rudnick LLP

Brown Rudnick LLP has significant experience representing AIM-listed companies, advising on takeover code matters and acting on both issuer and underwriter-side mandates. IPOs, secondary fundraisings and public M&A transactions are core specialisms of the practice, which is headed by Lena Hodge, who is particularly recommended for her work with US sponsors. Neil Foster is well known for his expertise in technology sector transactions.


Responsables de la pratique:

Lena Hodge

Autres avocats clés:

Neil Foster; Tom Braiden

Principaux clients

WANdisco Plc

Victoria Plc

Singer Capital Markets

Midatech Pharma Plc

Arix Bioscience Plc

Cenkos Securities Plc

Somero Enterprises Inc

Libertine Holdings Plc

Arix Bioscience Plc

Principaux dossiers

  • Advised Victoria Plc in respect of a £150m follow-on preferred equity investment  by KED Victoria Investments LLC by way of convertible preferred shares – bringing KED Victoria Investments LLC’s total preferred equity investment in Victoria Plc to a total of £225m.
  • Advised WANdisco Plc in respect of their fundraise of GBP 16.4 million  via a private placement of 5,857,862 ordinary shares in the capital of the company.
  • Advised Singer Capital Markets in relation to their role as the sole bookrunner, corporate broker and nominated advisor for Verici Dx Plc’s GBP 10 million fundraising by way of a subscription of shares and a placing conducted via an accelerated bookbuild on AIM.

Charles Russell Speechlys LLP

The ‘very experienced‘ team at Charles Russell Speechlys LLP, which is noted for its specialist expertise in the technology and hydrocarbon sectors, acting on behalf of companies, advisors and AIM NOMADs on a full range of matters. Takeovers are a key strength for the practice, which is also well versed in M&A, share offerings, company reorganisations, financings, venture capital, private equity and joint ventures. Practice head Andrew Collins – ‘careful, thorough and wise‘ – is a highly experienced adviser whose wide-ranging capabilities span the full gamut of ECM work. Collins is regularly supported by fellow key contact Paul Arathoon, who frequently handles corporate finance work for public companies.

Responsables de la pratique:

Andrew Collins

Autres avocats clés:

Paul Arathoon; Mark Howard

Les références

‘Personable, pragmatic and commercially astute. Very experienced team.’

‘Careful, professional people with the judgement and depth of experience to deliver good commercial advice.’

‘Andrew Collins. A good listener, careful, thorough and wise.’

Principaux clients

Shore Capital

Transense Technologies plc

Cakebox plc

Tamesis Partners LLP

Ashanti Capital Pty Ltd

Shard Capital Partners LLP

Caretech Holdings plc

Circle Property Plc

Prime People Plc

Stifel Nicolaus Europe Limited

Prospex Oil and Gas plc

Principaux dossiers

  • Advised the independent board of Caretech Holdings PLC in its take private sale to a management-led bidding vehicle, Amalfi Bidco Limited, for £870.3 million.
  • Advised Shore Capital (Robert Finlay/David Coaten), as nominated adviser, broker and bookrunner on a £14m fundraising for AIM-listed Helios Underwriting Plc, through a placing, direct subscription and open offer.
  • Advising AIM-listed property investing company Circle Property Plc, on the disposal by Circle Property Unit of Kents Hill Park Conference Centre to LXI Property Holdings 4 Limited for £34.5m in cash.


‘A well-led team with excellent strength in depth', Dentons draws praise from clients for its broad sector coverage and geographical reach, which it leverages to act in emerging markets overseas. The group has a demonstrably strong track record of handling small and mid-market IPO and secondary fundraising work for a range of issuers, sponsors, nominated advisers, brokers, underwriters and lead managers. Neil Nicholson  heads the team, drawing on his expertise to advise clients in relation to the UKLA Listing Rules, the AIM Rules of the London Stock Exchange and the UK Takeover Code. Darren Acres and Verity Kent are further important points of contact within the practice.

Responsables de la pratique:

Neil Nicholson

Autres avocats clés:

Verity Kent; Darren Acres

Les références

‘Excellent quality.’

‘All have outstanding knowledge.’

‘A wide breadth and depth of expertise.’

Principaux clients

Science in Sport plc

RA International plc

Cenkos Securities plc

Kinovo plc

Quiz plc


Hurricane Energy plc

Menzies (John) plc

Stifel Nicolaus Europe

Canaccord Genuity

Ondine Biomedical

Principaux dossiers

  • Advised Stifel Nicolaus Europe and Tennyson Securities on the sale by Cairn Capital, via Bybrook Capital, of shares in i3 Energy plc, dual-listed on the TSX and AIM market of the London Stock Exchange.
  • Advised Allenby Capital and joint broker on the proposed reverse takeover of Midwestern Oil & Gas Company Limited by AIM listed San Leon Energy plc.
  • Advised PCF Group on its cash box placings and subsequent delisting on AIM.

Hill Dickinson LLP

Hill Dickinson LLP is well-versed at advising issuers nominated advisers, sponsors and brokers on Main Market, AIM and AQSE transactions, both domestic and cross-border – particularly those stemming from the pharmaceuticals and life sciences, medical cannabis, energy and natural resources sectors. Michael Bennett is a specialist in M&A and capital markets transactions.

Responsables de la pratique:

Michael Bennett

Autres avocats clés:

Shantanu Sinha

Principaux clients

Hellenic Dynamics PLC

Genflow Biosciences PLC

Arlington Group Asset Management Limited and W H Ireland Limited

Artemis Resources Limited

Turner Pope Investments (TPI) Limited

Helium One Global LTD

Firering Strategic Minerals PLC

Bradda Head Lithium Limited

Aterian PLC

Ondo InsureTech PLC

Hercules Site Services PLC

Bluejay Mining PLC

Quetzal Capital PLC (now Tap Global Group PLC)

Dial Square Investments PLC

Psych Capital PLC

East Star Resources PLC

Lift Global Ventures PLC

Capital Metals PLC

ACP Energy PLC

Principaux dossiers

  • Advised Hellenic Dynamics PLC on its reverse takeover of Hellenic Dynamics S.A., a Greek cultivator and producer and its fundraising and readmission to trading on the Main Market of the London Stock Exchange.
  • Advising Arlington Group Asset Management Limited and W H Ireland Limited on the admission of First Tin PLC on the Main Market of the London Stock Exchange and its £20m placing.
  • Advising ASX-listed Artemis on its admission to AIM and fundraising.

Mayer Brown International LLP

With a reputation for being ‘tenacious, deal driven and understanding the client’s commercial imperatives’, Mayer Brown International LLP represents a host of issuers, investment banks, sponsors, placement agents and selling shareholders on the full-suite of ECM transactions. The group's regular workload includes public offerings and private placements, stock exchange listings, capital reorganisations, share buy-backs, and demergers, to name a selection. Practice head Kate Ball-Dodd is an expert on corporate finance, M&A, equity fund raisings and joint ventures, among others.

Responsables de la pratique:

Kate Ball-Dodd

Les références

‘What differentiates Mayer Brown is partner accessibility. During transactions there is a substantial amount of formulaic process, but when you need timely problem solving you need a partner with experience and familiarity with the deal. Mayer Brown provide that, together with a joined up approach across departments.’

‘Kate Ball Dodd and her team are tenacious, deal driven and understand the client’s commercial imperatives. That is key when there are deadlines, competitive dynamics etc. You can speak to anyone in the team at any level and they know what is going on. If they are unable to resolve the issue themselves, it is seamlessly elevated and a senior team member will deal with it responsively.’

Principaux clients


Investec Bank

Numis Securities

Peel Hunt

Canaccord Genuity

Grenergy Renovables

Velocys plc

Vitruvian Partners

Lunglife AI

Principaux dossiers

  • Advised VAALCO Energy in its stock-for-stock combination with TransGlobe Energy Corporation.
  • Advised Beazley plc on a £350 million ($422 million) equity fundraise on the London Stock Exchange, alongside an additional retail share offer.
  • Advised Grenergy Renovables SL on its EUR 90 million accelerated equity offering (AEO).

Reed Smith LLP

Reed Smith LLP frequently advises on a range of of domestic and cross-border capital-raising transactions, including public and private market securities offerings, acting on behalf of large, mid-cap and emerging companies. Underwriter-side mandates are also a key area of expertise for the team. Practice head Delphine Currie has significant experience in IPOs on both the Main Market and AIM, as well as in secondary fundraisings, and broader regulatory advice.

Responsables de la pratique:

Delphine Currie

Les références

‘Consistently strong and clear advice across a wide range of topics. The combination of solutions based advice with fair pricing means the Reed Smith deliver great value for money to my relatively small company.’

‘Corporate and listed company expert Delphine Currie is a truly excellent client service partner – connecting us to subject matter exerts quickly and efficiently and then maintaining an interest to ensure client service is impeccable throughout any engagement on any issue.’

‘Combination of knowledge and flexibility – they know their stuff and put their client’s interests first.’

Principaux dossiers

Armstrong Teasdale

With noteworthy expertise in the natural resources sector, Armstrong Teasdale frequently acts for companies, investment banks, brokers and other financial advisers on domestic and cross-border ECM transactions, while also advising on public M&A deals. Joan Yu, who leads the team, is a key name to note for AIM transactions as well as for public takeovers, reverse takeovers and secondary offerings.

Responsables de la pratique:

Joan Yu

Principaux clients

Baron Oil Plc

Empyrean Energy Plc

Metals Exploration Plc

Rurelec Plc

Pembridge Resources Plc

United Oil & Gas Plc

Invinity Energy Systems Plc

Samarkand Group Plc

Silverwood Brands Plc

VSA Capital Group Plc

VSA Capital Limited

Canaccord Genuity Limited

WH Ireland Limited

Novum Securities Limited

Optiva Securities Limited

Victoria Oil & Gas Plc

Principaux dossiers

  • Advised AIM quoted Invinity Energy Systems Plc on a strategic investment of £2.5 million by Everbrite Technology Co. by way of a conditional subscription of new shares.
  • Advised AQSE quoted Silverwood Brands Plc on its acquisition of Sonotas Group.
  • Advised AIM quoted Baron Oil Plc on its £5 million equity fundraising and a separate retail offer launched to existing shareholders through a REX trading platform.

Burges Salmon LLP

Burges Salmon LLP  acts for a robust client-base comprised of AIM-listed companies on fundraisings and other transactions, including public M&A, IPOs, secondary fundraisings, demergers and capital reorganisations. The team is also noted for its advice in relation to regulatory and compliance issues. Corporate expert Nick Graves leads the team alongside Rupert Weston, who focuses his practice on corporate finance and equity market transactions.

Responsables de la pratique:

Nick Graves; Rupert Weston

Principaux clients

Gooch & Housego plc

ITM Power plc

Michelmersh Brick Holdings plc

Peel Hunt LLP

WH Ireland Limited

Genus PLC

Stockdale Securities

Premier Miton Group plc

FirstGroup plc

EDP Renewables Europe, S.L.U.

Principaux dossiers

  • Advised Milton Group PLC on its potential bid for River & Mercantile Group PLC.
  • Advised ITM Power PLC on a strategic partnership with Vitol Holdings SARL for Motive Fuels Limited.
  • Acted for WH Ireland on the original AIM flotation of Northcoders Group plc. The team advised on a secondary fundraising for the company by way of an accelerated bookbuild.

Covington & Burling LLP

Known for its industry-specific expertise across the life sciences, technology, energy and financial services sectors, Covington & Burling LLP‘s capital markets practice group draws on extensive US securities knowledge to advise across the full spectrum of cross-border ECM transactions. Corporate practice vice-chair Gregor Frizzell leads the team, which also includes Simon Amies, a highly experienced partner with more than 25 years in the ECM space.

Responsables de la pratique:

Gregor Frizzell

Autres avocats clés:

Simon Amies

Principaux clients

Allergy Therapeutics PLC

Arecor Therapeutics PLC

Canaccord Genuity Limited

Destiny Pharma PLC

Ergomed PLC

finnCap Ltd

Peel Hunt LLP

ReNeuron Group PLC

Sensyne Health PLC

Silence Therapeutics PLC

Principaux dossiers

  • Advised AIM-listed Destiny Pharma PLC in two equity fundraises to raise approximately £14.45 million in the aggregate.
  • Advised Peel Hunt LLP, as Nomad and Joint Bookrunner, and finnCap Ltd, as Joint Bookrunner, in a follow-on financing by Shield Therapeutics plc to raise up to £19 million.
  • Advised AIM-listed Arecor Therapeutics PLC in its placing raising gross proceeds of approximately £6 million. The placing was made in connection with Arecor’s acquisition of Tetris Pharma Limited.

DAC Beachcroft LLP

DAC Beachcroft LLP‘s capital markets practice is noted by clients for its ‘breadth of specialities’, such that they ‘offer a one-stop-shop service’ to its client-list of issuers, NOMADs and brokers. AIM listings are a core pillar of the group’s work in the space, whose regular workload also includes a number of cross-border transactions. Practice head and seasoned ECM practitioner Jonathan Deverill - 'outstanding at what he does' - is a key name to note for such matters.

Responsables de la pratique:

Jonathan Deverill

Les références

The team excel at providing exceptional, thorough advice that is delivered quickly and well communicated. They have been our partners through mergers and acquisitions, AIM IPOs and on shareholder agreements and we have found that they always deliver in a personable and friendly way. They certainly feel more like business partners than just our lawyers. They are well resourced and punch above their weight on our dealings with them.’

‘Their strength is their responsiveness. Have the breadth of specialities to offer a ‘one-stop-shop’ service. Can be competitive on price.’

‘Jonathan Deverill is one of the most responsive partners I have ever dealt with.’

Principaux clients

Lords Group Trading plc

IQGeo Group plc

Diaceutics plc

Poolberg Pharma plc

Deltex Medical Group plc

Clear Capital Markets Limited

Singer Capital Markets Securities Limited

hVIVO plc

Zeus Capital Limited

Canaccord Genuity Limited

VSA Capital Limited

CloudCoCo Group plc

CAP-XX Limited

Mercator Capital Management Fund LP

Shore Capital and Corporate Limited / Shore Capital Stockbrokers Limited

Turner Pope Investments (TPI) Limited

Altitude Group plc

HSS Hire Group plc

Tialis Essential IT plc

Glantus Holdings plc

Principaux dossiers

  • Acting for Clear Capital Markets in respect of Genflow Biosciences Plc’s IPO on the Standard List of the London Stock Exchange with a market cap of £23.4 million and associated placing.
  • Advised IQGeo on its €13.0 million and its associated £3.5 million raise.
  • Acting for Shore Capital and Corporate Limited and Shore Capital Stockbrokers Limited on the £16.9 million secondary fundraising undertaken by H&T Group plc.

Dechert LLP

Dechert LLP‘s corporate and securities practice group is noted for its equal strength across UK ECM and US securities deals, advising on complex cross-border equity transactions – particularly those on behalf of issuers in the life sciences sector. Patrick Lyons leads the international capital markets team from London.

Responsables de la pratique:

Patrick Lyons

Les références

Patrick Lyons’ approachability, negotiation skills, problem-solving abilities, and teamwork make him an exceptional practitioner.’

Principaux clients

Abivax SA

EFG Hermes

Renaissance Capital

Toscafund Asset Management LLP

Oxford BioDynamics plc

Spark Advisory Partners

Cenkos Securities plc

Poxel SA

Bank Audi

Principaux dossiers

  • Advised Abivax SA in connection with its successful pricing of an oversubscribed €130 million financing by way of a reserved capital increase, largest private placement for a biotech company listed on Euronext Paris.
  • Advised EFG Hermes, as sole global coordinator, and the joint bookrunners on the EGP1.3 billion initial public offering (IPO) of Macro Group Pharmaceuticals, one of the largest Egyptian cosmeceuticals companies.
  • Dechert advised Abivax SA in connection with a €49.2 million financing, comprising a private placement of shares and issuance of royalty certificates.

Dorsey & Whitney

A ‘partner-led practice with quick response times’, Dorsey & Whitney‘s mid-market ECM team advises AIM-listed clients on a full suite of equity transactions, displaying especially strong credentials in the technology, healthcare, publishing, gaming, services and financial services sectors. Team leader Kate Francis is praised as ‘an exceptionally strong lawyer' with 'a good ability to identify wider issues and provide commercial solutions’.

Responsables de la pratique:

Kate Francis

Les références

‘Partner-led practice with quick response times. The added value for us is their ability to bring in experts from other fields across the legal spectrum including the US office.’

‘Kate Francis is an exceptionally strong lawyer – a technical expert in her field with a good understanding and ability to identify wider issues and provide commercial solutions. She has an approachable manner, is available when needed and very much feels like part of the team when acting for you.’

Principaux clients

Liberum Capital Limited

Investec Bank plc

Stifel Nicolaus Europe Limited

finnCap Limited

Peel Hunt LLP

Canaccord Genuity Limited

Numis Securities Limited

WH Ireland Limited

Watchstone Group plc

The Quarto Group Inc.

Inland Homes plc

Corero Network Security plc

Kinovo PLC

Inland ZDP plc

Principaux dossiers

Druces LLP

Fielding a team that possesses ‘commerciality … (which) matches its excellent legal abilities’, Druces LLP‘s equity capital markets practice sits within the wider corporate and commercial practice group. The team advises nominated advisors, brokers and management on the full spectrum of equity transactions – chiefly IPOs, secondary issuances and reverse takeovers. ‘Exceptional legal adviser’ Dominic Traynor is known for his ‘depth of experience in industry matters and general commerciality’.

Responsables de la pratique:

Dominic Traynor

Autres avocats clés:

Jack Dervyn; Mark Lamph

Les références

‘Jack Dervyn is exceptionally great and gets tight difficult legal projects done very speedily!’

‘Strong team with good understanding of what they are doing. They know the nuances and commercial approach required for smaller deals.’

‘Jack Dervyn – very detail orientated and always has great availability. Jack is a testament to all corporate lawyers with work ethic and specialist sector knowledge. Mark Lamph – great experience and great manner with clients.’

Principaux clients

Ajax Resources Plc

EV Metals Group Plc

Zenith Energy Ltd

Airnow PLC (formerly appScatter Group PLC)

Amedeo Resources PLC

Athelney Trust Plc

Beaumont Cornish Limited (Nominated Adviser)

Boston International Holdings plc

Caerus Mineral Resources Plc

Conico Ltd

Ecovista Plc

Egdon Resources PLC

Finablr PLC

First Development Resources Plc

Golden Metal Resources Plc

Goldplat PLC

Great Southern Copper PLC

Greatland Gold PLC

GSTechnologies Ltd

Katoro Gold PLC

Kavango Resources plc

Kibo Energy PLC

MAST Energy Developments plc

Mosman Oil and Gas Ltd

Mustang Energy PLC

Nostra Terra Oil and Gas Company PLC

Oilex Ltd (dual ASX and AIM listed)

Panthera Resources plc

Power Metal Resources plc

Red Rock Resources PLC

Regency Mines PLC

RentGuarantor Holdings PLC

Rockfire Resources PLC

SI Capital Ltd (broker)

SigmaRoc PLC

Savannah Resources PLC

Starvest PLC

Thor Mining PLC

TomCo Energy PLC

VSA Capital Limited (corporate adviser and broker)

Principaux dossiers

  • Advising EV Metals Group Plc in connection with its £50m acquisition of a UK battery materials business from main market-listed Johnson Matthey Plc.
  • Advising Kavango Resources Plc on its £3m placing and subscription by way of a simplified disclosure prospectus, as well as various acquisition transactions.
  • Advising GSTechnologies Limited on various secondary fundraisings and a corporate restructuring.

Edwin Coe LLP

Praised for its 'very commercial corporate practice', Edwin Coe LLP is highly experienced representing AIM companies and their advisers, including on secondary issuances and corporate governance issues. Head of corporate Russel Shear leads the team and handles all aspects of equity transactions. Daniel Bellau is praised for his extensive knowledge of listed companies, notably SMEs.

Responsables de la pratique:

Russel Shear

Autres avocats clés:

Daniel Bellau

Les références

Commercial and know SMEs.

Edwin Coe have a very commercial corporate practice who are always on hand to provide advice when required.

Russel Shear is available at short notice to provide advice.’

Principaux clients

Palace Capital plc

Novum Securities Ltd

Ethernity Networks Ltd

HC Wainwright & Co.

Brandshield Systems Plc

SPARK Advisory Partners Ltd

Beaumont Cornish Ltd

Nano Dimension Limited

Fox-Davies Capital Ltd

Kendrick Resources plc

Principaux dossiers

  • Advising the Broker and Nominated Adviser, in the admission of CleanTech Lithium PLC to AIM, giving it a market capitalisation at admission, of £23.7m.
  • Advising a London-based mineral exploration and development company on its admission to the main market of the London Stock Exchange.
  • Advising a UK and Israeli based provider of cybersecurity solutions on two AIM fundraisings to fund growth.

Fladgate LLP

Fladgate LLP‘s equity capital markets practice maintains a strong emphasis on international AIM transactions across the oil and gas, mining, healthcare, technology and financial services sectors. Beyond these core focus areas, the team is noted for its presence in emerging sectors such as eSports, cannabis, and psychedelics. Practice head David Robinson is well versed in ECM work and public M&A. Paul Airley also comes highly recommended by clients.

Responsables de la pratique:

David Robinson

Autres avocats clés:

Paul Airley

Les références

‘Extremely responsive to changing environments, clear guidance, flexible, personable, and a focus on the end desired outcome.’

‘Very good balance between technical know-how and commercial, practical sense. Easy transition between different partners and associates when primary contact has not been available. Very user-friendly people generally, which is not always the case in my experience in firms of a similar size or larger.’

‘We always find Paul Airley to provide sensible, considered advice and this extends to the wider team whenever necessary to involve others.’

Principaux clients

4Global PLC

Alliance Pharma PLC

Angus Energy PLC

Audioboom Group PLC

Eco (Atlantic) Oil & Gas Ltd

Fiinu PLC

Fulcrum Metals PLC

Galileo Resources PLC

Gfinity PLC

Global Petroleum Limited

Jubilee Metals Group PLC

Logistics Development Group PLC

Naked Wines PLC

Pan African Resources PLC

Powerhouse Energy Group PLC

Rockfire Resources PLC

Silver Bullet Data Services Group PLC

Tiger Royalties and Investments PLC

Warpaint London PLC

Windward Ltd.

Xtract Resources PLC

Principaux dossiers

  • Advised Fiinu Holdings Limited on its reverse takeover of AIM-listed cash shell, Immediate Acquisition plc, and related £8m equity placing and £2.5m facility. The enlarged group had a market capitalisation on its admission to AIM of £50 million.
  • Acted for Fulcrum Metals PLC on its admission to AIM and associated placing, which raised approximately £3 million. Allenby Capital Limited acted as nominated adviser, and Clear Capital Markets Limited acted as broker.
  • Acted for AIM listed Bluerock Diamonds PLC in connection with a complex financing involving the issue of loan notes, the issue of new convertible loan notes, the amendment of existing convertible loan notes and the entry into a new facility agreement.

Fox Williams LLP

AIM listings and fundraisings expert Richie Clark  spearheads the ECM-focused team at Fox Williams LLP. The practice is experienced on the equity financing aspects of AIM transactions, as well as in public takeovers, private M&A, regulatory and corporate governance advice.

Responsables de la pratique:

Richie Clark

Principaux clients

Rotala PLC

Aukett Swanke Group plc

Bonhill Group Plc

finnCap Group Plc

Allenby Capital LLP

Shore Capital & Corporate Limited

Plexus Group Holdings Plc

Scotgold Resources

Summerway Capital Plc

Directa Plus Plc

Tatton Asset Management Plc

Westmount Energy Ltd

Cedarvale Holdings Ltd

Principaux dossiers

  • Advised AIM quoted client Summerway Capital plc on its £80 million acquisition of Vertigrow Technology Ltd by way of reverse takeover and associated £8.5 million fundraise.
  • Advised AIM-quoted Rotala plc on its return of £10m to shareholders by way of a tender offer pursuant to which existing shareholders were invited to tender their shares.
  • Advised CSX-listed St Georges Eco-Mining Corp on its shareholding and proposed conversion of convertible loan notes in AQSE-listed BWA Group plc.

Locke Lord LLP

Locke Lord LLP has experience in both AIM and main market transactions, including premium and standard listings, secondary equity fundraisings, IPOs, M&A and corporate governance, to name a selection of typical workflows. Sean Page, who leads the team, is the go-to name for public and private M&A, ECM and venture capital transactions.

Responsables de la pratique:

Sean Page

Principaux clients

BSF Enterprise PLC

Mode Global Holdings PLC

Jade Road Investments Ltd.

Principaux dossiers

Memery Crystal

Memery Crystal focuses on handling equity capital markets transactions for international companies, advising on listings on the Main Market and AIM, secondary fundraisings and dual listings. Practice head and mining sector expert Nick Davis is especially well versed in AIM listings. Chair Lesley Gregory draws high praise from clients, who regard her as a ‘super experienced, very professional’ figure who ‘gives great advice‘.

Responsables de la pratique:

Nick Davis

Autres avocats clés:

Lesley Gregory

Les références

‘Great team at Memery Crystal. They are very experienced at equity capital markets. Very professional to deal with and give great advice.’

‘Lesley Gregory is super experienced, very professional and gives great advice in order to help negotiations or give solutions to problems.’

Principaux clients

Chariot Limited

Smarttecch247 Holdings plc

Tungsten Corporation

Shanta Gold

Kropz Plc

Kore Potash PLC

Rambler Metals and Mining PLC

Character Group (The) PLC

Zephyr Energy PLC

MGC Pharmaceutical

88 Energy Ltd

Alba Mineral Resources PLC

Brave Bison Group PLC

Character Group

Chariot Ltd

China Nonferrous Gold Ltd

Cordel Group PLC

Eneraqua Technologies PLC

Futura Medical PLC

Gaming Realms PLC

Goldplat PLC

GreenRoc Mining PLC


Intelligent Ultrasound Group PLC

Intuitive Investments Group PLC

Keras Resources PLC

Kingswood Holdings Ltd

MC Mining Ltd

Mobile Streams PLC

Pelatro PLC

SmartSpace Software PLC

Sosandar PLC

Ten Lifestyle Group PLC

tinyBuild, Inc

Tlou Energy Ltd

Principaux dossiers

  • Advising Shanta Gold on inbound M&A from various parties around the world, which ultimately did not end in a transaction being completed.
  • Advising Kore Potash with regards to Mine Construction finance. Valued at £1.8 billion.
  • Advised AIM client Tungsten Corporation plc on the £71 million recommended cash offer by Kofax Inc. for the entire issued share capital of Tungsten.

Michelmores LLP

Michelmores LLP advises its international client base on a wide range of ECM transactions, with the group’s recent workload seeing the team work with companies on potential IPOs, and listed companies on fund raising and M&A, alongside restructurings. The team is headed up by Ian Binnie, who focuses on AIM and main marked-related transactions, where he is praised as ‘extraordinarily knowledgeable with a pragmatic and commercial approach’.

Responsables de la pratique:

Ian Binnie

Les références

‘Ian Binnie is extraordinarily knowledgeable with a pragmatic and commercial approach to achieving the client’s preferred outcomes.’

‘Can-do constructive approach and friendliness.’

‘Ian Binnie: his technical grasp is impressive and is also very broad. He combines this with a highly pragmatic commercial approach. You feel you are in very safe hands with Ian.’

Principaux clients

Superdielectrics Group plc

Gresham House plc

Allenby Capital Limited

S.P. Angel Corporate Finance LLP

Hybridan LLP

Auctus Advisors LLP

Mining, Minerals & Metals plc

SPARK Advisory Partners LLP

Panmure Gordon (UK) Limited

Singer Advisory LLP

Sutton Harbour Group plc

VSA Capital Group plc

Me Group International PLC

Principaux dossiers

  • Advised Superdielectrics Group plc on its proposed admission to AIM.
  • Advised S.P. Angel Corporate Finance LLP on its tender offer and off-market share buyback by JKX Oil & Gas plc following its delisting from the premium segment of the Official List.

Mills & Reeve LLP

Praised for providing ‘a service comparable to the big London firms’, Mills & Reeve LLP represents quoted companies, nominated advisers and private companies on the entire ECM life cycle, ranging from admissions to fundraisings. The team has particular capabilities in the technology and life sciences sectors. Practice head Stephen Hamilton - 'the most pragmatic yet professional lawyer' - is a key name to note for fundraisings, IPOs, M&A, and corporate restructurings.

Responsables de la pratique:

Stephen Hamilton

Autres avocats clés:

Emma Plaxton

Les références

‘They have quality lawyers who have mainly qualified and practiced in the city. Because of their lower costs being outside London they deliver a service comparable to the big London firms at competitive pricing. We do not get teams of lawyers working on our matters inefficiently. A tight team of lawyers that are joined up and personable.’

‘Stephen Hamilton is very responsive. As a smallish cap AIM listed entity, we are an important client for him – which would not be the case for a partner in a large city firm.’

‘Sensible, commercial approach.’

Principaux clients

Eckoh plc

Skillcast Group plc

Midwich Group plc

Bango plc

IQGeo Group plc

Nexus Infrastructure plc

R&Q Insurance Holdings Limited

GRC International plc

Quixant plc

ECO Animal Health Group plc

Principaux dossiers

Penningtons Manches Cooper LLP

Penningtons Manches Cooper LLP represents nominated advisers, brokers and AIM-listed issuers on a broad range of equity transactions, including fundraisings, IPOs and reverse takeovers. Praised for his 'excellent, pragmatic advice and expertise', Seb Orton leads the team which also includes Adam Carling, an energy and technology-focused partner who arrived from Bird & Bird LLP in October 2022.

Responsables de la pratique:

Seb Orton

Autres avocats clés:

Adam Carling

Les références

‘The Penningtons team is vastly experienced in the small-mid cap space and provide a high quality service at a reasonable rate.’

‘Seb Orton is greatly experienced in acting for small-mid cap PLCs and investment banks. He provides excellent, pragmatic advice and expertise and has a very calm approach. He has a great ability to quickly understand any challenges and find straightforward solutions without overcomplicating matters.’

Principaux clients

Oxford Cannabinoid Technologies Holdings

SkinBioTherapeutics plc


Stanford Capital

Elixirr International PLC

Peel Hunt

SI Capital

Joh. Berenberg, Gossler & Co. KG


Hannam & Partners

Torpedo Factory Group

Strip Tinning Holdings plc

Principaux dossiers

  • Advising SkinBioTherapeutics on a placing and open offer.
  • Advising finnCap on a secondary fundraising for SRT Marine.
  • Advising Stanford Capital on a secondary fundraising for ImmuPharma.

Squire Patton Boggs

Squire Patton Boggs is active on bank-side mandates, frequently acting on cross-border work in the energy and natural resources sectors. The team also has deep expertise in the technology, industrials and consumer industries. Co-heads of department Jane Haxby and Leeds-based Hannah Kendrick are experienced in public and private M&A, fundraisings, takeovers and corporate governance. Jayson Marks is praised for his 'great expertise and experience in equity capital markets work', particularly in the worlds of oil and gas. All named lawyers are based in London unless stated otherwise.

Responsables de la pratique:

Jane Haxby; Hannah Kendrick

Autres avocats clés:

Jayson Marks

Les références

‘The team at Squire Patton Boggs are very personable and easy to work with, demonstrating understanding of our business and our requirements, while also being expert and experienced in these areas of law. We get terrific service, with continuity of lawyers working on our work, and great responsiveness.’

‘Our client partner is Jayson Marks, who we have used for a number of years. He is very accessible and always responsive, as well as having great expertise and experience in equity capital markets work, and having particular knowledge in our industry, being oil and gas. He takes a commercial and pragmatic approach to the advice he provides to us, and is very supportive and calm when times are challenging.’

‘Very quick to respond and deal with changing circumstances. Proactive in their approach.’

Principaux clients

Animalcare Group plc

Xeros Technology Group plc

Hurricane Energy plc

WH Ireland Group plc & WH Ireland Limited

Vp plc

Canaccord Genuity Limited

Applied Graphene Materials plc

Metals Exploration plc

Kooth plc

Enwell Energy plc

Applied Graphene Materials plc

Coats Group plc

Genuit Group plc (formerly Polypipe Group plc)

GB Group plc

Aptamer Group plc

Anglo Asian Mining plc

Principaux dossiers

  • Advised WH Ireland Limited in respect of the dual listing on AIM of ASX-listed, Artemis Resources Ltd with a market capitalisation of £52 million, and £5 million placing.
  • Advised Canaccord Genuity Limited and H&P Advisory Limited on a secondary placing by AIM and TSX-V quoted Southern Energy Corp, together with a simultaneous prospectus offering in Canada, to raise aggregate gross proceeds of US$31 million.
  • Advised Canaccord Genuity Limited on a £98.2 million Block Trade Agreement to dispose of a 22% stake in Atalaya Mining plc on behalf of ICBC Standard Bank plc following its enforcement of security.

Watson Farley & Williams LLP

Watson Farley & Williams LLP advises a varied mix of listed companies, investment banks, NOMADs and brokers on a diverse range of transactions, including IPOs, secondary placings, reverse takeovers and private placements. Practice head Chris Kilburn is a key name for M&A, corporate finance and commercial transactions in the energy, mining and transport sectors. 'Technically excellent and also commercially focused', corporate finance and M&A specialist Jan Mellmann is another key contact.

Responsables de la pratique:

Chris Kilburn

Autres avocats clés:

Jan Mellmann

Les références

‘Sarah Williamson, great knowledge of the legal process in financing – equity raise cross multiple jurisdictions. Adaptability dealing with very different personalities on our Executive and Board. Excellent and delivering legal process to board in a concise manner that engaged them and go their attention!’

‘Responsive and solutions focused.’

‘Jan Mellmann is technically excellent and commercially focused.’

Principaux clients

Beacon Energy plc

Celsius Resources

Southwind Corporation


88Energy Limited

Aminex plc

Chaarat Gold Holdings Ltd

Chesterfield Resources Plc

Coro Energy plc

Eco (Atlantic) Oil & Gas

Pala Investments Limited

Sandfire Resources Limited

Tianqi Lithium Corporation

TORM plc

Tower Resources

United Oil & Gas plc

VSA Capital Limited

Principaux dossiers

  • Advised AIM-traded Beacon Energy plc on its reverse takeover of Rhein Petroleum GmbH.
  • Advised Celsius Resources Limited on its admission to trading on the AIM market of the London Stock Exchange and connected fundraising.
  • Advised TSX-listed Tenaz Energy Corp.on its all-share combination with AIM-listed SDX Energy PLC.