CMS advises on two equity raisings

International law firm CMS has successfully advised on two equity raisings. The firm advised multinational investment bank, Stifel, in relation to a placing by Supermarket Income REIT (SUPR) to raise £140 million. It also advised Investec and N+1 on a placing by global cloud communications software and solutions provider, IMImobile, to raise up to £22 million. 

Since the commencement of lockdown measures in the UK, CMS has advised on seven successful ECM transactions. During this period, investors have consistently expressed support for UK listed companies. These successful deals, coupled with the pipeline of similar fundraisings currently visible in the market, demonstrate both the strength of the firm’s client base and the faith investors have in them.

Alasdair Steele, CMS Corporate partner and Head of ECM, comments: “During challenging times such as we are currently experiencing, we are pleased to be able to help companies bolster their finances with support from the equity markets. The firm has now successfully advised on seven equity raisings since the beginning of the UK’s lockdown in March and we are well placed to continue supporting our clients.” 

The CMS team advising Stifel was led by Iain Newman, partner and Co-Head of Corporate, and supported by Jennifer Gray and Hannah Forsyth (Corporate), and David Rivera (US Securities). The CMS team advising Investec and N+1 was led by Jack Shepherd, partner, and supported by Sophie Curran (Corporate).