CMS advises on £43 million placing and open offer for Benchmark Holdings

CMS is advising Numis Securities as nominated adviser and broker to AIM-listed Benchmark Holdings on a £36.4 million placing and £6.6 million open offer. 

Benchmark is an aquaculture health, nutrition and genetics business operating in 20 countries around the world. The proceeds of the fundraise will be used to help to scale up its CleanTreat® proprietary system that removes medicinal residues from treatment water, and which operates alongside and is integral to the delivery of its novel sea lice treatment, BMK08. 

The CMS team was led by head of Equity Capital Markets and corporate partner Alasdair Steele, assisted by corporate associate Jennifer Gray.

Commenting on the deal, Alasdair Steele said: “After a poor 2019 which saw a circa 20% decline in the amount raised on the London markets, this successful fundraising shows that investors are still prepared to support innovate companies developing new technologies.”