City law firm DMH Stallard LLP has advised Green & Smart Holdings plc (“Green & Smart”) on its successful admission to the London Stock Exchange’s AIM market and associated placing.
The shares in Green & Smart were admitted to trading on AIM today (May 12, 2016) and at the same time it completed a placing of 44,444,445 shares at a placing price of 9 pence per share, raising £4 million before expenses. The proceeds will fund the development of two biogas power plants. Green & Smart had a market value of £24.9 million on admission.
Green & Smart is the Jersey holding company of the Group, which is engaged in the Malaysian renewable energy sector.
The business is taking advantage of Malaysian government policy to increase the use of renewable energy sources. In the case of Green & Smart, this will involve the production of electricity through biogas power plants which capture and convert greenhouse gases extracted from the effluent produced by palm oil mills.
DMH Stallard is the English legal adviser to the company. The law firm is active in the IPO and new issue sector with a team of London- based corporate finance specialists.
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Nick Williams, Partner at DMH Stallard, led the team advising Green & Smart Holdings. He said:
”We are delighted to have been part of the team assisting Green & Smart on its admission to the AIM market”.
The DMH Stallard team supporting Nick Williams included Rishi Solan (Associate), Dan Schofield (Trainee Solicitor) and Hannah Shamsolmaali (Paralegal).