Liberum
MENU

News

Liberum's hot spell continues

16 July 2018 |

Following on from the success of last year Liberum has executed successful transactions across the equity market raising over £1bn for our clients year to date. Our corporate client list continues to grow and we are proud to have supported a number of them in achieving their strategic goals over the period.

About Liberum

Liberum is an independent investment bank with offices in London and New York.

Our Equities division provides sales, research and trading services to institutional investors, specialising in All-Cap Pan-European equity research across ten pillars, with deep sector knowledge.

Our Investment Banking division provides advice and execution services to UK plcs, including corporate broking, equity capital markets and M&A. 

Steve Pearce
Co Head of Investment Banking
+44 (0) 20 3100 2224
steve.pearce@liberum.com

Richard Crawley
Co Head of Investment Banking
+44 (0) 20 3100 2251
richard.crawley@liberum.com 

Follow Liberum

Twitter: @LiberumToday

LinkedIn: Liberum 

Liberum acts as Nominated Adviser & Sole Bookrunner on the IPO of Mind Gym plc

28 June 2018 | IPO

MG

We are pleased to announce that Liberum has successfully raised £50.8m in connection with the AIM IPO of Mind Gym. The shares were admitted to trading on 28 June 2018.

Mind Gym is a behavioural science business that uses scalable proprietary products to deliver human capital business improvement solutions to large corporations. The Company operates in three global markets: business transformation, human capital management, and learning & development.

Mind Gym was co-founded by Octavius Black and Sebastian Bailey in June 2000 and has since developed a strong market presence in the UK and a well-established, rapidly growing US operation as well as a presence in Singapore. Since inception, Mind Gym has worked with 62 per cent. of the current FTSE 100 and 59 per cent. of the current S&P 100 companies.

Liberum raised £50.8m for selling shareholders Octavius Black, the Company's Chief Executive Officer, Joanne Black, the Company’s Chair, and Sebastian Bailey, an Executive Director. All will retain a substantial shareholding in the Company, amounting to approximately 64.6% of the Company’s share capital.

The placing attracted strong support from high quality institutional investors and was significantly over-subscribed.
On admission, the market capitalisation of the Company was approximately £145 million.

Admission is an important step in the Group's development, enhancing the Company's profile in servicing large corporate clients and providing increased potential for partnerships, together with creating the ability to incentivise key employee.

Liberum acted as NOMAD and Sole Bookrunner on the IPO, and is retained as NOMAD and Sole Broker to the company post admission.

Liberum Team

Board – David Parsons
Investment Banking – Bidhi Bhoma, Joshua Hughes, Euan Brown, Kane Collings
Research – Joe Brent
Sales – Julian Collett, Lisa Tugwell, Oliver Baxendale
Corporate Access – Lynsey Cox

Press Enquiries: Redleaf Polhill

Emailpr@liberum.com

Follow Liberum

Twitter@LiberumToday
LinkedInLiberum

 

Liberum acts as Nominated Adviser & Sole Bookrunner on the IPO of Aquis Exchange PLC

14 June 2018 | IPO

CF-logo -New -Green (2)

We are pleased to announce that Liberum has successfully raised £32m in connection with theAIM IPO of Aquis. The shares were admitted to trading on 14 June 2018.

Aquis operates a cash equities trading venue with a unique subscription-based pricing model. Members are charged a monthly subscription fee based on the number of trading messages submitted on average during the month. Aquis also licences out its technology and, from 1 July 2018, will charge market participants and data providers for its market data.

Founded by the former CEO of Chi-X Europe, Aquis commenced trading in 2013 and has since grown to reach a market share of c.2% of the overall pan-European market. It is well positioned for the new regulatory environment with MiFID II leading to more trade through ‘lit’ venues such as Aquis.

Liberum raised £12m of new money, introducing a number of high quality investors, and £20m of secondary capital, providing liquidity to selling shareholders, including the Warsaw Stock Exchange who sold down their 20% holding in full.

Following a successful management roadshow and bookbuild, Liberum priced the IPO at the middle of the indicated valuation range, resulting in a market capitalisation on admission of £73m.

Liberum acted as NOMAD and Sole Bookrunner on the IPO, and is retained as NOMAD and Sole Broker to the company post admission. This transaction follows on from a pre-IPO fundraise in 2016, where Liberum raised £5.4m.

Liberum Team

Board – David Parsons

Investment Banking – Clayton Bush, Chris Clarke, Jill Li, Kane Collings

Research – Justin Bates, Jamie Donald

Sales – Oliver Baxendale, Julian Collett, Gerard O’Doherty, Lisa Tugwell, Steve Keeling, Mike Neish

Corporate Access – Marcio Remedios

Press Enquiries: Redleaf Polhill

Emailpr@liberum.com

Tel +44 (0)20 3100 2000

Follow Liberum

Twitter@LiberumToday
LinkedInLiberum

Liberum acts as Joint Bookrunner on Workspace Group’s £180m placing

08 June 2018 | Joint Bookrunner

Workspace

We are pleased to announce that Liberum successfully raised c. £180m through the placing of 16.3m shares in Workspace at 1,100p with institutional investors. BofAML was Joint Bookrunner alongside Liberum.

Established in 1987, and listed on the London Stock Exchange since 1993, Workspace owns and manages 3.7 million sq. ft. of business space across 66 London properties which it lets directly to customers.

The Group will use the £180m proceeds for the following:

• capital expenditure required for the ongoing project pipeline, which is intended to enhance the Company's rental income and value;

• continued implementation of the targeted acquisition strategy of properties across London where the Company believes there is an opportunity to apply the Workspace model to drive rental growth and value uplift;

• the recent acquisitions of five of the Centro buildings in Camden for £109 million in February 2018 and the remaining two Centro buildings for £76.5 million in April 2018; and

• other general corporate purposes.

Workspace is a FTSE 250 listed Real Estate Investment Trust and a member of the European Public Real Estate Association (EPRA).

Liberum was appointed as Joint Corporate Broker to the Company in October 2013 and raised £96.5m for Workspace in 2014.


Liberum Team
Board – David Parsons
Investment Banking – Richard Crawley, Jamie Richards, Jonathan Wilkes-Green, Louis Davies
Sales – John Mozley
Research – David Brockton, James Ashley
Execution – Graham Smith, Mark O'Hara
Corporate Access – Lynsey Cox

Press Enquiries: Redleaf Polhill

Emailpr@liberum.com

Tel +44 (0)20 3100 2000

Follow Liberum

Twitter@LiberumToday
LinkedInLiberum

 

Liberum acts as Nominated Adviser & Sole Bookrunner on the IPO of Codemasters Group Holdings plc (“Codemasters”)

01 June 2018 | IPO

Code

Largest AIM IPO capital raise in 2018

We are pleased to announce that Liberum has successfully raised £185m in connection with the IPO of Codemasters (AIM: CDM). The shares were admitted to trading on 1 June 2018.

Codemasters is a video game developer and publisher, specialising in high quality racing games.

Headquartered in Southam, Warwickshire, the Group is one of the most recognised British gaming companies, with a 30 year track record of producing successful titles. The Group has approximately 500 full time employees and operates in three UK locations – Southam, Birmingham and Runcorn.

Liberum conducted a targeted investor pre-marketing exercise which delivered a number of quality cornerstone investors. The IPO research report helped position Codemasters attractively in a global peer group and the management roadshow resulted in a very high hit-rate of orders to meetings.

Liberum launched the IPO as a “fixed price offer” at a market capitalisation of £280m, having received strong valuation feedback from cornerstone investors. This helped generate early momentum in the bookbuild, and driven by the strength and quality of the institutional demand, resulted in the offering being up-sized from £150m to £185m.

Liberum acted as NOMAD and sole bookrunner on this IPO, and is retained as NOMAD and Sole Broker to the Company post Admission.

Liberum Team

Investment Banking – Neil Patel, Cameron Duncan, William Hall

Research – Andy Bryant, Alex Schmidt

Sales – Julian Collett, Oliver Baxendale, Sebastian Fernandez, Lisa Tugwell, Gerard O’Doherty

Corporate Access – Marcio Remedios

Press Enquiries: Redleaf Polhill

Emailpr@liberum.com

Tel +44 (0)20 3100 2000

Follow Liberum

Twitter@LiberumToday
LinkedInLiberum

Liberum acts as NOMAD and Sole Bookrunner on Gresham House plc's £15m placing

22 May 2018 | Nomad and Sole Bookrunner

 GH

We are pleased to announce that Liberum has successfully raised £15m through the placing of 3.7m shares in Gresham House at 410p with new and existing institutional investors.

Gresham House is a specialist alternative asset manager offering funds, direct investment and tailored investment solutions, including co-investment, on a range of differentiated alternative investment strategies.

The Company will use the £15m proceeds to partially fund the acquisition of FIM Services Ltd, an alternative investment manager specialising in UK real assets, specifically forestry (83,000 hectares) and renewable energy generation (137MW).

FIM will be acquired for an initial consideration of £21 million (£11 million of cash and £10 million of Gresham House equity) with a deferred
consideration of up to £4 million payable in cash and based upon certain performance criteria.

The acquisition will more than double Gresham House’s AUM, taking it from £649 million to c.£1.5 billion of assets under management. In addition, the acquisition will make the enlarged group profitable and significantly enhance EPS.

Liberum acted as NOMAD and Sole Bookrunner on the placing. Taurus London acted as Financial Advisor on the acquisition.

Liberum Team

Investment Banking – Neil Elliot, Jill Li, Youichi Iisaka, Trystan Cullen
Sales – SMID Cap team
Specialist Sales – Steve Keeling
Execution – Graham Smith, Mark O'Hara
Corporate Access – Lucy Williams, Marcio Remedios

Press Enquiries: Redleaf Polhill

Emailliberum@redleafpr.com

Call: +44 (0)20 7382 4747

Follow Liberum

Twitter@LiberumToday
LinkedInLiberum