Pitmans, the Thames Valley’s largest commercial law firm, acted for brokers Fairfax IS plc on the placing of up to 180,450,000 ordinary shares and admission to trading on AIM of PME African Infrastructure Opportunities plc.
The placing and Admission raised around US $180 million which will be used to invest in infrastructure projects and real estate related sectors throughout Sub-Saharan Africa. The Fund also hopes to assist in unlocking the Continent’s resource potential by forming part of public/private partnerships.
Adam Dowdney, Partner in Pitmans’ Corporate Department, who led the deal, commented: “This is the first time we have acted for Fairfax since they were formed two years ago and we were delighted to be instructed on this exciting deal intended to encourage the development of a Continent rich in natural resources but that historically has suffered through a lack of investment in infrastructure.
"The AIM market continues to provide significant opportunities for us at Pitmans and this is the first AIM listing on which I have worked since I joined the firm at the beginning of the year. We are excited by working on public transactions and in the AIM market particularly and have developed a committed team of lawyers with AIM experience and this deal evidences our ability to operate and advise in this field.”
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