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Travers Smith advises Auction Technology Group on its £600m Main Market IPO

Overview

Travers Smith LLP has advised Auction Technology Group (ATG) on its Main Market IPO.

ATG is the operator of the world's leading marketplaces for curated online auctions, connecting bidders to auctioneers across three large markets: industrial and commercial equipment, art and antiques, and consumer surplus and retail returns.

Admission took place on 26 February 2021. The market capitalisation of ATG on Admission was £600 million.

The Travers Smith team was led by Corporate Partners Andrew Gillen and Adrian West, with support from Associates Fabian McNeilly, James Lansdown and Henry Thorpe. Other specialist advice was provided by Tax Partner Simon Skinner and Associate Hugh Brooks, as well as Incentives Senior Counsel Elissavet Grout, Finance Partner Donald Lowe and Associate Michael Leadbeater

ATG CEO John-Paul Savant said "We picked the right advisors and we are grateful for the huge amount of work put in by the whole Travers Smith team. Thank you for leading us through the process and helping us achieve a successful IPO. This IPO will give us a strong platform to continue investing and innovating to further enhance what we bring to auctioneers and bidders, and we look forward to sharing this exciting journey with our new shareholders."

Numis Securities Limited acted as Sponsor, Joint Global Co-ordinator and Joint Bookrunner. J.P. Morgan Securities plc (trading as J.P. Morgan Cazenove) acted as Joint Global Co-ordinator, Joint Bookrunner and Stabilising Manager.