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Olswang advises SP Angel on Malaysian renewable energy company Green & Smart Holdings' AIM IPO

13 May 2016

This article was produced by Olswang LLP, which joined with CMS on 1 May 2017.

International law firm Olswang has advised SP Angel Corporate Finance LLP on its role as nominated adviser and broker to Green & Smart Holdings plc on its placing and admission to trading on the London Stock Exchange's AIM market. Green & Smart Holdings plc is the holding company of the group which is based in Malaysia and engaged in the renewable energy sector generating power from biogas through the treatment of Palm Oil Mill effluent. The principal operating company in the group has an established track record delivering waste water solutions to the palm oil industry.

Ahead of its initial public offering on AIM (IPO) on 12 May, the company raised a total of £4 million and is valued at approximately £24.9 million. The IPO will allow Green & Smart Holdings plc to position itself to increase its market share in Malaysia and to further develop its pipeline of innovative renewable energy solutions.

Robert Wooldridge, Partner, SP Angel commented: "Green & Smart Holdings plc is ideally positioned to take advantage of the Malaysian government's initiative to reduce reliance on non-renewable energy sources, and the company’s admission to AIM is a significant step towards its goal of becoming the largest biogas supplier in the country. Olswang's insights, support and experience in managing complex, multi-jurisdictional transactions were critical to the IPO and the company's successful admission to AIM."

Olswang Corporate Partner Azlinda Ariffin-Boromand commented: "We're pleased to have advised SP Angel on an IPO that will provide Green & Smart Holdings with excellent opportunities for future development and growth. We look forward to seeing the company continue along its strategic roadmap and drive forward as one of the leading independent power producers in the burgeoning Malaysian renewable energy sector."

The Olswang Team was led by Corporate Partner Azlinda Ariffin-Boromand and supported by Corporate Associate Nicole Gyring-Nielsen.

Acting for Green & Smart Holdings plc were lawyers from UK-based firm, DMH Stallard, Collas Crill (Jersey) and Cheang & Ariff (Malaysia).

Read more about Olswang’s international legal practice on the firm’s website.