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The firm acted for Zeus in its capacity as nominated adviser on one of the first AIM floats of 2024.
European law firm Fieldfisher has advised Zeus Capital in its capacity as nominated adviser on MicroSalt PLC's IPO on London's AIM Market.
The low-sodium salt manufacturer was admitted to trading today (1 February), having raised more than £3 million on IPO, giving the company a market capitalisation of £18.5 million on admission.
MicroSalt is targeting rising demand for lower sodium products with its disruptive, proprietary product and manufacturing process.
The company is developing a "full-flavour" salt with approximately 50% less sodium than traditional salt for food manufacturers and consumers, and has launched the SaltMe! Brand of potato crisps as a 'proof of concept' product.
The funds raised from the listing will be used to support the development of the company and its subsidiary, MicroSalt Inc, including sales and marketing of MicroSalt's applications with existing and potential customers, research and development, general working capital purposes and staff hires.
Microsalt’s majority shareholder is AIM-listed Tekcapital plc, a company that creates value from investing in new, university-developed discoveries and provides a range of technology transfer services to help organisations evaluate and commercialise new technologies.
The Fieldfisher team advising Zeus Capital was led by Corporate Partner Melanie Talbot, assisted by Associate Caitilín Hepworth.
Commenting on the deal, Fieldfisher Partner Melanie Talbot said:
"We are delighted to have been involved in one of the first AIM IPOs of 2024. MicroSalt's successful debut is an encouraging sign that we may be in for a stronger year in the London capital markets.
"We acted on two of the nine IPOs completed on AIM in 2023 and cemented our position as the leading legal adviser to AIM listed companies, including the AIM 100.
"We are looking forward to another robust performance in 2024"