International law firm Stephenson Harwood LLP has advised new client, Kalibrate Technologies (Kalibrate), on its placing and admission to trading on the AIM market of the London Stock Exchange, which occurred on 29 November 2013. Market capitalisation on admission was £26.2 million. Stephenson Harwood advised Kalibrate and N+1 Singer Advisory LLP acted as nominated advisor and sole broker to Kalibrate.
Kalibrate is a well-established provider of pricing and retail planning tools to petroleum retailers worldwide. Based on its proprietary software and underpinned by an extensive library of petroleum market data, Kalibrate’s products enable clients to devise new market entry strategies, plan and refine existing petroleum retail networks, and react to petroleum pricing changes on a real-time basis. The Group is the only global provider of both petroleum retail pricing and petroleum retail planning software and services.
Stephenson Harwood provided legal advice to Kalibrate including advising on the placing of approximately £13.1 million of shares before expenses, with 8,227,848 new shares being issued by Kalibrate and 8,354,430 shares being sold by Kalibrate’s majority shareholder (at the time of the placing).
Commenting on Kalibrate’s AIM admission, Tom Nicholls, partner in the corporate finance group at Stephenson Harwood, said "We are certainly seeing momentum building in activity levels on the London markets, particularly around the technology sector. We are delighted to have helped bring Kalibrate onto AIM in what is now our fifth London IPO that we have acted on in the past six months."
The Stephenson Harwood team was led by corporate finance partner Tom Nicholls, with associate Tom Page assisting.