CMS tops UK ECM transactions legal adviser rankings

CMS has advised on five separate placings for listed companies in the past week, reinforcing the firm’s position as the joint most active legal adviser on ECM transactions in Q1 2020 according to ECM Insight’s Q1 2020 Report.  

In the past week, CMS advised on the following five placings:

• Blue Prism – a £100m placing for AIM listed Blue Prism, a recognised robotic process automation specialist. The placing was structured as a cash box placing and effected through an accelerated bookbuild. Corporate and client relationship partner Simon Morgan led the team, supported by Nicole Gyring-Nielsen, Jennifer Tambe, Alanna Fockler and David Rivera. 
• Big Yellow Group – an £81.9m placing effected by an accelerated bookbuild for storage provider, main market listed Big Yellow Group. The CMS team was led by Corporate partner James Parkes, supported by Pauline Howcroft, Harry Cross, Daniel Myers and David Rivera.
• Hollywood Bowl – a £10.9m placing effected by an accelerated bookbuild for main market listed Hollywood Bowl, the UK’s market leading ten-pin bowling operator.  Corporate partner James Parkes led the team, supported by Alice Frydl and Max Wiktorsson.
• Horizon Discovery Group – a £6.9m placing by way of an accelerated bookbuild for AIM-listed cell engineering company Horizon Discovery Group. The CMS team was led by Corporate partner Alasdair Steele, supported by David Rivera, Jennifer Gray, Kate Darracott and Hannah Brash.
• Intelligent Ultrasound – a £5.2m placing for AIM-listed Intelligent Ultrasound Group, which provides medical training simulators and clinical ultrasound software. The placing included a VCT/EIS eligible component. The CMS team was led by Corporate partner Iain Newman and supported by Karl Williams.

In ECM Insight’s Q1 2020 Report, CMS was ranked joint first for UK legal adviser by volume and #4 by value. For UK legal advisers to AIM-listed companies, CMS was ranked #2 by value and #3 by volume for Q1 2020.

Alasdair Steele, CMS Corporate partner and Head of Equity Capital Markets, comments: “In these challenging times, we continue to help companies bolster their finances with support from the equity markets. Our first-rate ranking in the ECM Insight Q1 2020 deal tables demonstrates the strength of our practice and the team has remained hard at work since the coronavirus pandemic began. We have now advised on seven completed equity raisings since the beginning of the COVID-19 lockdown, including a £75m placing for Supermarket Income REIT and £22m placing for IMImobile. As the situation develops, we remain on-hand to advise and support our clients.”