Field Fisher Waterhouse’s (FFW) rated AIM practice has pulled in one of the biggest natural resources floats this year – a C$65m (£29.1m) listing on AIM for Canadian company Brazilian Diamonds.
The deal was led by FFW AIM partner Anthony Brockbank, who won Brazilian Diamonds as a client on the back of his relationship with the company’s chairman, who was already involved with other AIM clients handled by the firm. Brockbank said: “At the moment, resources companies are flavour of the month, especially with gold prices so high. Fifteen years ago London was the primary mining marketplace and now it’s coming back. There’s more of an interest among brokers post the dotcom bust.”
Brazilian Diamonds is already listed on the Toronto Stock Exchange, but plumped for a UK listing. Previously, the company has raised money in London with private placings through a UK broker.
Brockbank explained: “It’s easier for European investors to trade within the timezone and this listing gives the company profile where most of its investors are.”
Brazilian Diamonds’ nominate financial adviser (nomad) Brown Shipley was advised by David Collins of Berwin Leighton Paisner.
FFW’s AIM practice, which is run by Brockbank and Dominic Gurney-Champion, has had a very good year. The AIM & OFEX Deal Monitor credits the firm with six AIM issues between January and September.
However, the majority of these were for the issuer. The ideal AIM practice is evenly balanced between issuers and nomads. “It’s just the way that it happened this year,” commented Brockbank.