Nabarro advises on AIM float of Modern Water
12 June 2007
Nabarro has advised KBC Peel Hunt Ltd on the admission to trading on AIM of Modern Water plc and placing of 25,210,085 ordinary shares at 119 pence per share, valuing Modern Water by market capitalisation at £70 million.
Modern Water was established in December 2006 by management and IP Group plc as a specialist water technologies company. Its objective is to establish and exploit a portfolio of water technologies to address the global problems of economic availability of fresh water and the treatment and disposal of waste water.
IP Group plc was founded in 2001 and its core business is the commercialisation of intellectual property originating from research institutions. It has long-term partnerships with ten universities in total in the UK. As at 31 December 2006, 53 portfolio companies had been created from these partnerships.
The corporate team at Nabarro who advised KBC Peel Hunt on the floatation of Modern Water was led by corporate partner, Peter Williamson, assisted by Edward Craft and Jonathan Ling. Norton Rose advised Modern Water.
Peter Williamson, corporate partner, said:
“Since advising KBC Peel Hunt on the float of IP Group itself in 2003, all the subsequent IP Group spin-outs have been interesting and enjoyable to work on and this, our 6th, has proved just as interesting. We look forward to working with KBC Peel Hunt in the future.”
If you would like any further information or have any queries please contact:
Charlotte Tandy
Lansons Communications
020 7566 9706
charlottet@lansons.com
or
Peter Williamson
Partner
Nabarro
020 7524 6356
p.williamson@nabarro.com
