Law firm Stephenson Harwood LLP has advised the sponsor and joint brokers, Panmure Gordon and Singer Capital Markets, on McColl's Retail Group plc’s (McColl’s) £35 million fundraise, by way of a proposed firm placing and open offer at a price of 20 pence per new ordinary share.
McColl's is a British convenience shop and newsagent operator listed on the Main Market of the London Stock Exchange, with a portfolio of more than 1,200 managed convenience stores and newsagents. This proposed fundraise would enable the company to accelerate its growth strategy – specifically rolling out further Morrisons Daily stores – improve the infrastructure on the Morrisons Daily sites, invest in its wider portfolio and reduce its financial leverage.
The Stephenson Harwood team was led by corporate finance partners Tom Nicholls and David Dowding, with support from associates Kate Longman and Jack Digby.