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Ashurst advises FXFY on its investment in Advanced Markets
Global law firm Ashurst has advised FXFY LLC (Forexify) on its investment in Advanced Markets group.
Forexify is a boutique merchant bank that provides advisory services and makes investments predominantly in FinTech companies that have the potential to disrupt legacy business models. Advanced Markets is an institutional foreign exchange liquidity and prime-of-prime service provider which offers direct market access trading in spot FX, precious metals, and contracts for differences (CFD) across financial and commodity products via various regulated entities globally.
Forexify and additional new investor Corbel join existing shareholders Macquarie Group and GFI Group LLC, a wholly owned subsidiary of BGC Partners, Inc. who have reduced their stakes to accommodate new investors for the next phase of Advanced Markets’ growth. The new investor lineup combines the specialist and deep Industry expertise of Forexify
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Ashurst advises Pricoa on SIT’s private placement of ESG-linked bonds
Global law firm Ashurst has acted for Pricoa Private Capital, the private capital business of Prudential Financial, Inc., as initial purchaser of ESG-linked bonds issued by Italian listed company SIT S.p.A. (SIT) to diversify its funding sources and improve financial flexibility.
SIT is the parent company of SIT Group (the Group), which is a leading global manufacturer and supplier of smart solutions for climate control and consumption measurement. The Group has subsidiaries and operations in, among others, Italy, Netherlands, Romania, Portugal, China, USA and Mexico; it has recorded revenues in excess of €320 million in 2020, with an adjusted EBITDA of more than €44 million and a net profit of more than €13 million.
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Ashurst advises MLG Oz on its IPO and ASX listing
Global law firm Ashurst has advised integrated mine site services and logistics provider, MLG Oz Limited, on its initial public offer and listing on ASX.
The IPO comprised the issue of 50 million new shares, combined with a sell down of 20.7 million existing shares by MLG’s founder, Murray Leahy (who will continue to hold at least a 50.1% interest in MLG). The price of shares under the IPO was A$1.00 per share, representing an implied market capitalisation of approximately A$145.7 million. At close of trade on its first day of trading, MLG’s market capitalisation was A$184.3 million (with a share price of A$1.265).