14 Jul 2014 | 01:20 pm |
International law firm Pinsent Masons has advised Intelligent Energy on its initial public offering (IPO) raising a total of £55 million.
The deal, thought to be London's biggest pure technology flotation in five years, values the green power company at $1.1bn (£639 million). Intelligent Energy intends to use the funds raised to pursue international expansion plans.
Corporate partners Rob Hutchings, Louise Wolfson and senior associate James Broadhurst led a Pinsent Masons team advising on the transaction.
Commenting on the deal, Rob Hutchings, said:
"The flotation represents a significant milestone for Intelligent Energy. It provides the funding needed to embark on ambitious growth plans as the company enters the next stage of its development.
"We are delighted to have assisted our client on a deal which is critical for their business and also demonstrates an appetite for innovative clean tech investments in the UK market."
Intelligent Energy is a longstanding client for Pinsent Masons. In 2013, the firm advised the company on its £30 million convertible loan note issuance and earlier this year advised on its issue of warrants.
Chief financial officer at Intelligent Energy, John Maguire, said: "We very much enjoyed working with the Pinsent Masons team, who in turn worked closely with ours to help us reach this important milestone in Intelligent Energy's development."
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