A team from Bird & Bird has successfully advised Gamma Communications plc on their initial public offering.
The IPO sees the placing of 44,163,374 ordinary shares of 0.25p each at a price of 187 pence per share. Upon admission, Gamma will have a market capitalisation of £165.2 million with estimated gross placing proceeds of £82.6 million. The placing was underwritten by Investec.
Gamma is a rapidly growing, technology based, provider of communications services to the UK business market. Gamma’s services are designed to meet the increasingly complex voice, data and mobility requirements of businesses, through the exploitation of its know-how and own intellectual property.
Neil Blundell, partner Bird & Bird, commented: "We were delighted to work with Gamma and the Investec team on what has been a highly successful IPO. The deal is an excellent example of Bird & Bird's leading presence in the communications market and rapidly growing reputation for IPO work. We look forward to continuing our relationship as Gamma grows."
Bob Falconer, CEO, Gamma, said: "Bird & Bird were a natural fit for us given their expertise in working with communications and technology companies and the AIM market. We have been exceptionally pleased by the advice and support that we have received from the team at Bird & Bird."
The Bird & Bird team was led by Neil Blundell and Jo Bletcher with assistance from Ciara Thompson, Leah Cairney, Fleur Benns, Karan Aswani, Ed Coles and Laura Hubbard.