Liberum acts on eight public market transactions across six sectors in the last five weeks.
We are delighted to have acted as financial adviser on two public offers, completed the IPO of a world leading service provider to the film industry, and raised equity for five listed clients in the Real Estate, Healthcare and Telecoms sectors.
Hornby – Mandatory Cash Offer
Liberum acted as Sole Financial Adviser and Broker to Phoenix Asset Management on its acquisition of an additional 20.9% stake in Hornby plc and the resulting mandatory offer for the entire share capital of Hornby. Phoenix Asset Management is an investment manager focused on long-term value investing and known for the high quality and depth of its investment research process.
Kalibrate Technologies – Recommended Cash Offer
Liberum acted as Sole Financial Adviser and Broker to Hanover Investors on its recommended cash offer for Kalibrate Technologies plc. Liberum successfully secured irrevocable undertakings covering 40% of Kalibrate’s share capital and acquired a further 10% in the market for Hanover. Hanover Investors is an active investment manager focused on small and mid-cap UK public companies.
FFI Holdings – IPO to raise £59m
Liberum acted as Nominated Adviser and Sole Bookrunner to FFI on its £236m IPO, raising £59m from institutional investors. The proceeds will be used to fund the Company’s consolidation strategy. FFI is the world leader in the provision of completion contracts to the entertainment industry for films, television, mini-series and streaming products.
Real Estate Credit Investments – Firm placing to raise £23.5m
Liberum acted as Sole Bookrunner to RECI in relation to a placing raising £23.5m pursuant to its placing programme. RECI intends to use the proceeds to invest in its current pipeline of attractive investment opportunities. RECI invests primarily in debt secured by commercial or residential properties in Western Europe and the United Kingdom.
CityFibre – Firm Placing to raise £200m and Offer for Subscription to raise a further £15m
Liberum acted as Joint Bookrunner and Joint Underwriter raising over £200m for CityFibre to acquire Entanet, substantially increasing the Company’s wholesale capabilities and relationships, and to fund the growth of the group’s full fibre network across UK towns and cities. CityFibre provides fibre connectivity services through designing, building, owning and operating fibre optic networks across the UK. The transaction is subject to shareholder approval on 27 July.
NewRiver REIT – Firm Placing and Placing and Open Offer to raise £225m
Liberum acted as Sponsor and Joint Bookrunner to NewRiver, raising £225m. The transaction was well supported by investors and subsequently upsized, providing capital to fund the Company’s acquisition and development pipeline. NewRiver is a FTSE 250 REIT and specialist real estate investor, asset manager and developer focused solely on the UK retail and leisure sector.
Assura – 9.9% Placing to raise £98.4m
Liberum acted as Joint Bookrunner to Assura, raising £98.4m. The transaction was very well supported by both existing and new investors from the UK, Europe and the US and was completed at a tight 1.6% discount. Assura is a FTSE 250 healthcare REIT which owns c.400 primary health care properties across the UK.
Shield Therapeutics – £12m Capital Raising
Liberum acted as Nominated Adviser and Joint Bookrunner to Shield, raising £12m. The transaction involved the coordinated exercise of warrants, a placing of new shares and a subscription by the company’s directors. Shield Therapeutics is a specialty pharmaceutical company focused on the development and commercialisation of pharmaceutical solutions to un-met medical needs.
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.
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