Big catch for real estate investment company
9 October 2006
Dolphin Capital Investors Limited raises £202 million on AIM
LG, the London-based business law firm advised Dolphin Capital Investors Limited ("Dolphin") on a placing that raised £202 million, thereby creating the second largest AIM quoted real estate investment company.
Dolphin, which was originally floated on AIM in December 2005 (raising €100 million), is the first real estate investment company targeting residential resorts in Southeast Europe, principally Greece, Cyprus, Turkey and Croatia. The money raised by the placing will be used to fund the Company's ongoing investment programme.
Corporate finance partner Nick Heather led the LG team advising Dolphin and was assisted by John Reed.
Nick said: "Although the market for property investment funds has been difficult in recent months this placing demonstrates that there is still an appetite for investment propositions where the investment manager is performing well and is delivering on what it originally promised."
Panmure Gordon, broker to Dolphin, was sole bookrunner in connection with the placing and was advised by Travers Smith (Aaron Stocks). Grant Thornton is the nominated adviser to Dolphin.
Notes to editors
- LG is a London-based corporate law firm that has advised on over 180 AIM transactions raising in excess of £1.5 billion – over 6% of monies raised on AIM to date.
- With over 270 lawyers, LG advises entrepreneurial and growth market clients seeking to raise capital for their business ventures.
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Nick Heather
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