Fox Williams recently advised the City of London Group plc (“the Company”) on its fund raising of over £6 million by way of a firm placing and open offer of shares.
The Company is a closed ended investment company listed on the London Stock Exchange’s main market ( LSE : CIN ).
The monies raised will be used to finance both new and existing specialist financial services funds launched by City of London Group plc.
Eric Anstee, Chief Executive, said:
“The proceeds will help fund our growth strategy, principally through seed and working capital advances to the Company’s existing investments as well as the launch of our new Credit Asset Management Limited venture.
In addition, we are extremely pleased to welcome six new substantial institutional shareholders to our Register, who will be looking to share in the exciting prospects we believe lie in store for our business”.
Paul Osborne, head of corporate for Fox Williams, led the transaction and was assisted by Nick McCarthy, a senior associate and James Daughtrey an associate, both in the corporate team. Capital markets head, Richie Clark, acted as the Fox Williams review partner for the transaction.
Paul Osborne, said:
“We were delighted to complete this fund raise against an extremely challenging economic backdrop. The professional team, comprising Singers Capital Markets, Rees Pollock and Fox Williams worked extremely well with the Company’s executive team to deliver a successful outcome”.