International legal practice Osborne Clarke has advised AMTE Power plc, a developer and manufacturer of lithium-ion battery cells for specialist markets, on its successful AIM listing and associated placing. On admission, AMTE will have a market capitalisation of £61 million.
The placing, which was over-subscribed, raised gross proceeds of approximately £13.7 million for the company and certain selling shareholders.
Admission and trading in the company’s ordinary shares will take place today (12 March 2021). WH Ireland Limited acted as nominated adviser, joint broker and joint bookrunner. SI Capital Limited acted as joint broker and joint bookrunner.
The company is expected to qualify for the London Stock Exchange’s Green Economy Mark at admission, which recognises companies that derive 50 per cent. or more of their total annual revenues from products and services that contribute to the global green economy.
The Osborne Clarke team that advised on the IPO was led by Head of Equity Capital Markets, Jonathan King, who was assisted by Senior Associate Ed Nisbet, Associate Oliver Woods and Trainee Solicitor Imaan Nazir. Partner Michael Carter and Associate Kate Haywood provided incentives advice.