Fox Williams’ Corporate group has advised Paul Hogarth, the founder and chief executive of Tatton Asset Management (Tatton) on a range of matters relating to the placing and admission of Tatton to trading on the AIM market of the London Stock Exchange of Tatton.
The Group provides a range of services to the FCA directly authorised financial adviser marketplace encompassing discretionary fund management, regulatory and compliance services and mortgage services.
The IPO has enabled Tatton to raise approximately £10.00 million in new money from an institutional placing of 6,410,256 ordinary shares of £0.20 each in the capital of the Company, at a placing price of 156 pence, and approximately £41.6 million for selling shareholders by way of an institutional placing of 26,679,075 ordinary shares at a placing price of 156 pence. The market capitalisation of the company on admission was £87.2 million.
Paul Osborne, senior partner of Fox Williams, who led the advisory team together with corporate partner Guy Morgan, said: “We are delighted to have advised Paul on the IPO and admission to AIM of Tatton, which will position the Group for its next stage of development and provide it with an optimal capital structure for future growth. Fox Williams has a strong track record in advising corporates and senior business leaders on equity fundraisings and stock exchange transactions, including IPOs and secondary issues. I am proud that our business relationship with Mr Hogarth, as with many of our clients, has been built over a number of years. As a team we gain great satisfaction from seeing our clients’ quality businesses raise new equity capital, allowing them to expand and develop.” Financial services partner Chris Finney and corporate associate Sarah Carlton also advised on the transaction.
Paul Hogarth, CEO of Tatton Asset Management plc, said: “Tatton was founded 10 years ago, in 2007, and this IPO represents the next stage in our business journey. The group has over £4 billion of assets under management and a cost effective discretionary portfolio management service, exclusively available via platforms. The team at Fox Williams has provided support and guidance during the course of a long-standing relationship, providing trusted advice over a series of important transactions.”