17 Dec 2010
LG advises on £94.7 million Main Market listing, £50 million placing and £20 million placing and offer for subscription
The Investment Funds Team at Lawrence Graham LLP ("LG"), the London-based business law firm, has advised BlackRock Frontiers Investment Trust plc (BlackRock Frontiers) on its Main Market listing and £94.7 million fundraising by way of a placing. BlackRock Frontiers is a new investment trust which invests in companies operating in the least developed of the emerging markets which are typically referred to as 'Frontier Markets' or whose stocks are listed on the stock markets of such countries.
The completion of the BlackRock Frontiers transaction follows a busy period for LG's Investment Funds Team which has also advised Ruffer Investments Company Limited (RICL) - a Guernsey investment company listed on the Main Market that invests in internationally listed or quoted equities or equity related securities (including convertibles) and/or bonds which are issued by corporate issuers, supra-nationals or government organisations - on a £50 million fundraising by way of a placing and BlackRock Commodities Income Investment Trust plc (BlackRock Commodities) - an investment trust listed on the Main Market that invests primarily in securities of companies operating in the mining and energy sector - on a £20 million fundraising by way of a C Share placing and offer for subscription.
The LG team advising BlackRock Frontiers included Corporate partner John Reed and Corporate assistant Kris Rogers, the LG team advising RICL included Corporate partner Oliver Riley and Corporate associate Neeraj Tah. The LG team advising BlackRock Commodities included Oliver Riley and Corporate associates Kris Rogers and Michelle Davis.
Nick Heather, Head of LG's Investment Funds Team, said: "We are delighted to have advised BlackRock Frontiers and look forward to working with them going forward. Having advised RICL and BlackRock Commodities since launch, their recent fundraisings are testament to their strong performance."
The sponsor, financial adviser and broker to BlackRock Frontiers was Winterflood Securities Limited which was advised by Maclay Murray & Spens. The sponsor and broker to RICL was Cenkos Securities plc who was advised by Stephenson Harwood. The global co-ordinator, bookrunner and sponsor to BlackRock Commodities was J.P. Morgan Cazenove who was advised by Ashurst LLP.