International legal practice, Osborne Clarke, has advised Liberum Capital Limited, in its capacity as nominated adviser, sole bookrunner and sole broker, on the successful £7.7 million placing for AIM-quoted CT Automotive Group plc.
CT Automotive is a UK-headquartered company that designs, develops and supplies interior components for the global automotive industry, with operations across China, Europe and Mexico. It has embedded relationships with a blue chip client base and long term visibility of orders, with market volumes now beginning to recover and a strong pipeline of opportunities.
CT Automotive intends to use the net proceeds of the placing to, amongst other things, strengthen the balance sheet, provide additional flexibility to take advantage of growth opportunities and to realise further efficiency savings.
The placing was announced on 27 April 2023 and was conditional upon the approval by CT Automotive's shareholders, which was obtained at a general meeting yesterday (15 May 2023).
The Osborne Clarke team that advised Liberum on the transaction was led by Partner Jonathan King, who was assisted by Associate Director Ed Nisbet and Associate Elizabeth Britchford. Osborne Clarke also advised Liberum on CT Automotive's £75 million AIM IPO and associated £33.6 million institutional placing in December 2021.
Osborne Clarke's Corporate team, which is Band 1 ranked for Capital Markets: AIM by Chambers, is considered a go-to practice for many companies, working with global businesses to fast-growth start-ups and market challengers. The team advises at every stage of company development across all corporate issues, from equity and debt fundraisings to M&A, IPOs and JVs.