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Published September 8th 2023
Home > News & Insights > Article

Michelmores Capital Markets team support Tribe Technology plc in AIM IPO

blurred view of business people walking fast in financial district,
Authors
Ian Binnie
Ian Binnie
Gruff Cartwright
Gruff Cartwright
Victoria Miller
Victoria Miller

The Michelmores Capital Markets team has advised on the AIM IPO and associated fundraising by Northern Irish-based Tribe Technology plc, the disruptive developer and manufacturer of autonomous mining equipment. The capital fundraising was conducted through an institutional placing and direct subscriptions and also included a retail intermediaries offer through the BookBuild platform. Michelmores acted for Allenby Capital in its capacity as nominated adviser and sole broker.

At Admission Tribe had a market capitalisation of approx. £22 million, having raised £4.6 million.

The Michelmores team was led by Corporate Partner, Ian Binnie, with assistance from Corporate Associate Victoria Miller and Corporate Solicitor Gruff Cartwright.

Commenting on this most recent AIM transaction, Ian Binnie said:

“We are extremely pleased to have worked with Allenby Capital for a second AIM transaction in quick succession. Following from the last 12 months of reduced equity capital markets activity, it is great to be able to support a successful IPO, reflecting, as it does, increasing confidence from both institutional and retail investors.”

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Authors
Ian Binnie
Ian Binnie
Gruff Cartwright
Gruff Cartwright
Victoria Miller
Victoria Miller

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