Nabarro advises on latest Indian AIM IPO
11 October 2010
Nabarro has advised on the AIM IPO of SKIL Ports & Logistics Limited (“SPL”). SPL is a new company established to develop, own and operate port and logistics facilities in India which aims to benefit from the ongoing growth of the Indian economy in general and the logistics industry in particular. SPL raised £76 million in an institutional placing in the UK and the USA to fund the development of its first project, a container port and logistics complex near Mumbai.
Nabarro acted for Cenkos Securities plc, nominated adviser and broker to SPL. Martin Finnegan, corporate partner and member of the firm's India Group led the Nabarro team, commenting: "We are pleased to have been instructed by Cenkos on this significant AIM fundraising, which demonstrates the continuing appetite of international investors for exposure to the burgeoning Indian economy".
Ian Binnie, head of Nabarro's India Group, commented: "Our involvement in this fundraising comes as a result of an increasing external awareness of our experience and focus on India. We are confident that India-based business will continue to grow in importance in both the UK capital markets and in cross-border merger and acquisitions".
