Travers Smith LLP has advised Zeus Capital Limited, as financial adviser and sole bookrunner, and Deloitte LLP, as financial adviser and sponsor, to Xafinity PLC (Xafinity), on its £190.3 million main market IPO. The IPO involved the conditional placing of £179.6 million of existing and new ordinary shares.
Xafinity is a pensions actuarial, consulting and administration business providing a wide range of advisory and compliance services to over 550 pension scheme clients which operate in a highly regulated environment.
Xafinity is seeking admission to trading on the premium segment of the London Stock Exchange's main market. Admission to the main market is expected to take place at 8.00 a.m. on 16 February 2017. The net proceeds of the IPO, which are expected to be approximately £46 million, together with existing cash and an immediate drawdown of the new debt facility, will be used to repay Xafinity's existing bank facilities.
The Travers Smith team was led by corporate finance partner Philip Cheveley with support from senior corporate finance associate Mark Anderson.
Xafinity was advised by Reed Smith LLP. Xafinity's management team was advised by Macfarlanes LLP.