Locations
Fieldfisher's equity capital markets (ECM) team achieved impressive results in 2023, navigating through market challenges to record significant milestones across the London and Paris capital markets.
Despite the prevailing market conditions, the team surpassed its 2022 performance in terms of overall deal value, demonstrating resilience and agility in delivering results.
Fieldfisher advised on two out of nine Initial Public Offerings (IPOs) completed on AIM in 2023, along with 19 secondary issues, collectively raising approximately £352 million. This contribution accounted for nearly a quarter of the total funds raised on AIM during the year, highlighting the team's substantial impact on the market.
In Paris, the ECM team experienced a successful year, marked by notable achievements such as facilitating a €141 million capital increase for CARBIOS, marking the largest capital increase on Euronext Growth since 2015. These accomplishments underscored the team's ability to navigate and excel in diverse markets, further solidifying its reputation as a leading adviser in the field.
Key highlights from Fieldfisher's ECM activity in 2023
- Acted on three of the largest transactions on AIM and Euronext Growth, consolidating the firm's position as a top adviser in these markets.
- Advised on four IPOs across the London and Paris capital markets, contributing to the expansion and growth of client portfolios.
- Played a pivotal role in numerous Mergers and Acquisitions (M&A) deals and Reverse Takeovers for AIM and Euronext Growth Paris Market-listed issuers, totalling an approximate acquisition value of £1 billion.
- Assisted clients in over 20 secondary issues across the London and Paris capital markets, raising in excess of £0.5 billion.
- Recognised as the leading legal adviser to AIM companies and FTSE AIM 100 companies based on the number of retained clients, highlighting the team's expertise and commitment to client success.
Commenting on Fieldfisher's ECM performance in 2023, Head of Equity Capital Markets Brad Isaac said:
"It is no secret that 2023 was a challenging market environment for ECM activity. However, despite prevailing market conditions, the team saw an uptick in activity levels towards the end of last year and advised on several significant capital markets deals which we hope is indicative of a more positive 2024.
"We are pleased to have further cemented our position as a leading adviser to AIM-listed companies, especially in core sectors such as technology, energy, mining and life sciences across the London and Paris markets.
"We are grateful to have an active and flourishing client base and look forward to working with even more new clients this year."
Partner and Capital Markets Lead in Paris, Samuel Pallotto, added:
"I am immensely proud of the achievements of our ECM team in Paris. Facilitating a €141 million capital increase for CARBIOS, the largest on Euronext Growth since 2015, speaks volumes about our team's expertise and dedication.
"These successes reaffirm Fieldfisher's position as a top advisor in navigating and excelling within diverse market landscapes."
For a full breakdown of Fieldfisher's ECM deal activity 2023 and our analysis of key sectors, download a copy of our ECM Wrap 2023.