Fasken wins AIM mandates as junior market perks up

Fasken Martineau has won mandates on two AIM IPOs as well as secondary fundraising, amid signs that the junior market may ­finally be emerging from its two-year hibernation.

The firm acted for oil and gas exploration company Kea Petroleum on its £6m share issue, while a second Fasken team advised Oxford Nutrascience Group on a £1.1m fundraising.

Corporate partner David Smith led the way on the Kea Petroleum listing, with corporate partner Mark Camilleri advising on ­Canadian law aspects. ­Corporate partner Chris Chrysanthou and IP ­partner Stuart Richards led for Oxford Nutrasciences.

RBC Capital Markets was the broker for Kea ­Petroleum, with advice coming from Field Fisher Waterhouse corporate finance partner Dominic Gurney-Champion.

Zimmerman Adams International Limited acted as the broker on the Oxford Nutrasciences deal, with Faegre & Benson corporate partner Melanie Wadsworth leading.

Last year Chrysanthou also led a Fasken team advising co-brokers ­Canaccord and RBC on the $120m (£79.9m) secondary placing of Petra Diamonds.

On the prospect of an AIM revival, Chrysanthou said: “Hopefully we’ve turned a corner and things will get moving.”

Elsewhere on AIM, Memery Crystal corporate partner Lesley Gregory acted for Petra on the fundraising that enabled it to purchase a majority stake in South Africa’s ­Cullinan mine.

The mine produced a 507-carat uncut diamond that last month raised a record $35.2m at auction.