CMS advises on fundraising by AIM-listed SigmaRoc

International law firm CMS has advised Liberum Capital as nominated adviser and joint bookrunner, and Peel Hunt and Redburn as joint bookrunners, on the successful £30m fundraising by AIM-listed SigmaRoc, the quarried materials group. The fundraising was implemented by way of a placing and REX Retail Offer at a price of 54 pence per share, representing a premium of approximately 1.8% to the mid-market closing price of 53 pence on 22 February 2023.
 
The proceeds of the fundraising will part fund ten potential near-term strategic acquisition opportunities and four organic growth and carbon footprint reduction projects. 

The CMS team was led by Corporate Partner and Head of Equity Capital Markets Alasdair Steele, assisted by Harriet Jolley and Danielle Rumens (Corporate). 

Commenting on the successful fundraise, Alasdair Steele commented: “After a year when equity capital markets’ deal volumes were significantly reduced in 2022, seeing a successful raise at a premium to the prior closing market price provides some optimism of a recovery in 2023.”