Addleshaw Goddard has advised The Pebble Group plc on its flotation on the AIM market. With an equity placing totalling £135m, this is the largest placing in connection with an AIM IPO this year.
The Pebble Group is a leading business in the global promotional products industry. The company has floated with an opening market capitalisation, based on the placing price, of c. £175m.
This IPO will be the eighth on AIM this year, in what has been one of the toughest years for UK IPOs for some time. Having also advised on the IPOs of essensys plc and Brickability Group plc, AG's equity capital markets team has advised on over one third of all AIM IPOs in 2019, more than any other law firm.
The transaction was led out of Addleshaw Goddard’s Manchester office by Corporate Partner, Richard Lee.
Richard Lee said: "We are delighted to have advised The Pebble Group on its flotation on the AIM market.
"Whilst the markets have been incredibly tough this year, we hope for improved market conditions next year and continue to believe that certain businesses will, despite volatile economic and market conditions, still stand a good chance of successfully floating."
The equity fundraise was managed by the IPO’s sole bookrunner, Berenberg, with Grant Thornton having been appointed The Pebble Group’s nominated adviser.