Travers Smith LLP has advised Zeus Capital Limited, as financial adviser, broker, joint global co-ordinator and bookrunner, Numis Securities Limited, as joint global co-ordinator and bookrunner and Stockdale Securities Limited, as sponsor, to JTC plc (JTC), on its £310 million main market IPO. The IPO involved the conditional placing of £243.8 million of existing and new ordinary shares.
JTC is a leading global provider of administration services to fund, corporate and private clients.
JTC is seeking admission to trading on the premium segment of the London Stock Exchange's main market. Admission to the main market is expected to take place at 8.00 a.m. on 14 March 2018. JTC has conditionally raised net proceeds of approximately £15.1 million. These proceeds, together with funds available under a new debt facility, will be used to repay JTC's existing debt facility. The balance of the funds raised will be used for general working capital and wider corporate purposes.
The Travers Smith team comprised Corporate Finance Partner Philip Cheveley and Corporate Finance Senior Associate Mark Anderson. U.S. securities law advice was provided by U.S. Partner Dan McNamee and Senior U.S Associate Brent Sanders.
JTC was advised by Norton Rose Fulbright on English law and Carey Olsen on Jersey law.