Appleby Advises Aquatic Foods
Group Plc on AIM Listing
Appleby acted as Jersey counsel for Aquatic Foods Group Plc, a marine foods and seafood processor and supplier based in the People's Republic of China, supplying to export and local markets, in relation to its flotation on the London Stock Exchange’s AIM market on 3 February 2015.
The Company, successfully raised £9.3 million through the issue of 13,226,081 new ordinary shares at a price of 70 pence per ordinary share, the net proceeds of the Fundraising will be used in part to expand the Group's processing capabilities. Aquatic Foods' market capitalisation on admission, based on the placing price, was approximately £79.3 million.
The Appleby team was led by James Gaudin, partner and Jersey Head for Structured Finance, who was assisted by Senior Associate Simon Tait. Appleby acted alongside Aquatic Foods UK lawyers Olswang LLP, China lawyers Trend Associates and nominated advisor and broker SP Angel Corporate Finance LLP.
Commenting on the transaction, James Gaudin said: “Both Appleby and Jersey as an international finance hub, have developed strong ties with China, so it is very exciting to be able to help take a progressive company like Aquatic Foods to market with a Jersey incorporated holding company.”