Law firm Stephenson Harwood LLP has advised Manolete Partners Plc on its £76 million IPO and admission to AIM. The company raised £16 million by way of a subscription for new shares and certain shareholders realised £13 million by way of a sale of existing shares.

Manolete Partners is a leading UK insolvency litigation financing business established in 2009. It will use the funds to increase the general volume of business undertaken through investing in claims, take on more, higher value claims, make operational upgrades including strategic hires and further develop the UK regional network.

"Despite challenging market conditions, the strong demand from investors is testament to the quality of the company's business and management team," said Tom Page, partner, Stephenson Harwood. "This is one of several transactions on which the wider Stephenson Harwood capital markets team is currently working. Encouragingly, it's a busy end to the year despite background distractions."

The Stephenson Harwood team was led by London-based corporate partner Tom Page and included corporate associates Gabrielle Pugh and Maddie Alexander-Finch. Further support was provided by finance partner George Vaughton and finance associate Faisal Halabi, together with employment associate Serena Foulkes. Stephenson Harwood advised on all aspects of the IPO which involved a complex restructuring and an amendment to the company's existing debt facility.