BLP racks up AIM hat trick before 2007 year-end

Berwin Leighton Paisner (BLP) wrapped up three AIM deals before the 2007 year-end, including its first listing of an Indian company and the flotation of the first Asia-based gaming company to seek a London listing.

Berwin Leighton Paisner

(BLP) wrapped up three AIM deals before the 2007 year-end, including its first listing of an Indian company and the flotation of the first Asia-based gaming company to seek a London listing.

The firm acted for Philippines-based online gambling company AsianLogic on its 28 December AIM listing, which raised £53.9m. Collins Stewart acted as nominated adviser (nomad) and broker on the listing under advice from Shepherd and Wedderburn partner Angus Rollo.

BLP head of corporate finance David Collins said this was the first pure play Asian-focused gaming business to come to the London market.

Collins said: “The instruction was an extension of relationships that we’ve had with a company called Playtech, which we floated a couple of years ago. Tom Hall, who’s the business development director of Playtech, is now involved in the operations of AsianLogic.”

BLP’s other first in December saw it acting on its first AIM listing for an Indian business, representing the Isle of Man holding company of Indian visual effects and computer gaming company DQ Entertainment. The listing raised approximately £26.8m.

Partner Louise Workman led the BLP team acting on the deal, having received the instruction from Khaitan & Co, one of BLP’s preferred Indian law firms, which also assisted on the transaction.

Evolution Securities acted as nomad on the listing, advised by Olswang.

In its third pre-Christmas AIM flotation, BLP advised Randall & Quilter Investment Holdings, a run-off management service provider and acquirer of solvent insurance companies in run-off. Randall raised £31m on admission to London’s junior market.

BLP corporate finance partners John Bennett and Murdoch Currie led on the deal and Noble & Company, advised by Travers Smith, acted as nomad. Noble & Company also acted as broker to the placing together with Numis Securities, which also acted as bookrunner.