09 Apr 2010
Indian power company KSK Power moves from AIM to LSE Main Market
International business law firm Lawrence Graham LLP ("LG") has advised KSK Power Ventur plc ("KSK") in connection with its move up from AIM to the Main Market of the London Stock Exchange by way of a standard listing.
The KSK Group develops private power projects across India and KSK has a current market capitalisation of approximately £850 million.
Lawrence Graham has advised KSK since its original IPO on AIM in November 2006 and subsequent secondary fundraisings. Due to the rapid growth of KSK since its flotation, KSK has become one of the first companies to obtain a standard listing on the Main Market under the new UK Listing regime.
The Lawrence Graham team advising KSK included Corporate partner Tom Nicholls and solicitor Jenna Beever.
Tom Nicholls, who has acted for KSK since its flotation on AIM, said: "We are delighted to have advised KSK in connection with its move up to the Main Market. Having seen KSK's market capitalisation grow from £137.9 million at the time of its IPO to around £850 million on the back of its progress in developing current and new power projects, its move to the Main Market is a fantastic example of AIM successfully being used as a stepping stone up to the Official List."
Khaitan & Co. acted as Indian lawyers to KSK and Arden Partners plc acted as financial adviser and broker.
Notes to editors:
- LG advises entrepreneurial and growth market clients seeking to raise capital for their business ventures. We are named as adviser to nine of the AIM 100 companies, with no other firm listed as acting for more than five
- LG is also ranked as the no. 1 legal adviser by market capitalisation of all AIM companies (Hemscott, January 2010)
- LG's dedicated India Group has extensive experience of advising Indian businesses on their international expansion and a significant track record of advising Indian companies and funds that have raised capital on AIM