Fox Williams LLP advised Cenkos Securities Plc (“Cenkos”) in connection with a placing of new ordinary shares of AIM-listed London Capital Group Holdings Plc (“LCG”), to raise approximately £8,000,000 before expenses (the “Placing”). Cenkos acted as Nomad, sole broker and financial adviser in respect of the Placing.
LCG is a rapidly growing financial services company offering online trading services. Its core activities include the provision of spread betting products on the financial markets to retail clients under the trading name Capital Spreads. Its other divisions provide online foreign exchange trading services to institutional and professional clients and also institutional derivatives broking.
Cenkos is a leading London-based independent securities firm focused on advising UK small and mid-cap companies and raising finance for them. Cenkos has experience across a range of sectors and has developed a well-regarded corporate finance practice in the small and mid-cap arena, having raised in excess £3 billion in equity financing for its corporate clients. Camilla Hume and Nick Wells led the Cenkos team.
Fox Williams’ Head of Capital Markets, Richie Clark, who led the transaction, assisted by corporate associate Tom Rowley, commented:
“We are pleased to have worked with the highly-regarded team at Cenkos on this pivotal transaction for LCG. Fox Williams has been very active in secondary fundraisings in 2011 and this transaction was further evidence of our strength in advising on deals in the financial services sector”.
Allen & Overy LLP advised LCG on the Placing.