Pinsent Masons advises IP Group on its £128 million fundraising
11 Mar 2015 | 09:19 am |
International law firm Pinsent Masons has advised IP Group plc on its share issue to raise approximately £128 million through the issue of shares by way of a firm placing, placing and open offer.
The Pinsent Masons team acting on the transaction was led by corporate partner Russell Booker supported by senior associate Jayson Marks and associates Sandra Plantier, Rhodri Evans, Mark Stephens and Victoria Baron.
Commenting on the deal Russell Booker said:
"We have acted for IP Group since its inception. This transaction further evidences the support of institutional investors for the group, its strategy and the opportunities that the group offers. We continue to be delighted to work with IP group in what are very interesting times for the sector. "
IP Group is listed on the London Stock Exchange's Main Market and is a FTSE 250 constituent. The group was established in 2000 to commercialise scientific innovation developed in leading research institutions, and currently has direct partnerships with 15 universities in the UK which provide it with access to the technology created at such universities; these include Oxford, Manchester, King's College London and Bristol.
The group also has access to intellectual property emanating from the United States through agreements with Columbia University, the University of Pennsylvania and Princeton University. IP Group has a diverse portfolio of portfolio companies in four main sectors – Biotech, Cleantech, Healthcare and Technology.
Numis Securities Limited acted as sponsor and financial adviser to IP Group.
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