CMS advises on £104.4m placing for Future plc

CMS are advising Numis Securities (as sole sponsor and financial adviser and joint bookrunner) and N+1 Singer Capital Markets (as joint bookrunner) on the £104.4m placing by way of an accelerated bookbuild for main market listed Future PLC, the global platform for specialist media. The proceeds will be used to part fund Future’s £140m acquisition of TI Media, a UK-based, print-led consumer magazine and digital publisher with deep industry heritage and a portfolio that incorporates 41 brands including Decanter, Country Life, Wallpaper* and Woman & Home. TI Media brings to Future a presence in the Wine, Golf, Equestrian, Country Living, TV Listings and Gardening verticals and deepens and extends Future’s strength and position in Home, Cycling, Consumer Technology and Country Sports.

CMS head of Equity Capital Markets, Alasdair Steele, commenting on the deal said: “Despite a generally quiet spell for the equity markets, this fundraise demonstrates that even against the ongoing UK and geo-political uncertainties, UK stock market investors remain willing and eager to back the UK’s growing companies as they continue to expand and develop.”

The CMS team was led by CMS head of Equity Capital Markets, Alasdair Steele, supported by senior associate Nicole Gyring-Nielsen and associate Will Holder.