Sky Capital opts for Nicholson Graham

Nicholson Graham & Jones has capitalised on its relationship with commercial Wall Street firm Ziegler Ziegler & Altman and gained a new client in the process

Nicholson Graham corporate finance partner Owen Waft was approached by Scott Zeigler to act on behalf of start-up New York broker dealer Sky Capital Holdings on its offer for subscription and application for admission to AIM.
Parent company Sky Capital is making the move to float its subsidiary start-up on AIM rather than Nasdaq because, as Waft says: “The company sees a lot of opportunities for brokering services in the UK.”
Sky Capital is due to be admitted on 12 July 2002 and is seeking to raise £3.7m. It is expected that at the time of float the company will have a market capitalisation of £31m.
The last float that the firm acted on was Expomedia Group in December 2001.
However, the firm's financial performance dipped this year. Turnover for the firm was £27.74m for 2001/2002, down a fraction from £28m in 2000/2001. Profits per partner were down from £320,000 in 2000/2001 to £275,000 for 2001/2002, with fees per fee-earner standing at £222,000, down from £228,000 in 2000/2001.
Nicholson Jones managing partner Michael Johns said: “It was a difficult year. This year we are looking to increase profits.”