30 Jun 2013

Admission to the AIM Market

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International law firm Stephenson Harwood LLP has advised on IBEX Global Solutions PLC's (IBEX) placing and admission to trading on the AIM market of the London Stock Exchange, which occurred on Friday 28 June 2013. Market capitalisation on admission was £58.1 million. Stephenson Harwood advised IBEX's nominated adviser and joint broker Liberum Capital Limited (Liberum), and joint broker Cenkos Securities PLC (Cenkos).

IBEX provides contact centre services and other business process outsourcing solutions to enterprise customers. The Group employs approximately 8,000 staff in sixteen locations situated in five countries, and provides services in eleven languages. IBEX has over 70 clients, the majority of which are corporations that outsource some or all of their contact centre operations and the Group's specialisation is in the voice-based contact centre services area where it provides a complete suite of voice-based services to clients.

Stephenson Harwood provided legal advice to both Liberum and Cenkos including advising on the £10.7m placing of new shares and simultaneous £3.9 million vendor placing on behalf of IBEX's major shareholder. The Stephenson Harwood team was led by Tom Nicholls, with associate Tom Page assisting.

Commenting on IBEX's AIM admission, Tom Nicholls, partner in the corporate finance group at Stephenson Harwood, said "With current market fluctuations, the number of IPOs on AIM remains subdued, so we're delighted to have been involved in what is now our third London IPO in the last two months."

In May, the corporate group at Stephenson Harwood advised Cenkos Securities PLC in connection with the £73 million IPO for GCP Student Living PLC on the Specialist Funds Market.

Liberum is a Pan-European investment bank, providing equity research, sales and trading services to institutional asset managers, and capital markets services to corporate clients. Cenkos is an independent specialist securities firm focused on UK small and mid-cap companies.

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Tom Nicholls

Tom Nicholls
Partner

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Andrew Rieley
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