Maples Advises Taylor Maritime Investments Limited on its LSE Listing
Maples and Calder, the Maples Group’s law firm, is pleased to announce that its Asia Shipping practice acted as Republic of the Marshall Islands counsel to Taylor Maritime Investments Limited (“TMI”) in relation to its recent initial public offering (“IPO”) on the London Stock Exchange, certain seed asset vessel acquisitions and vessel financing. Notably, this is the first shipping IPO on the London Stock Exchange for a number of years and the offering, which closed on 27 May 2021, was over-subscribed, raised US$160 million and issued approximately 93 million shares in connection with the acquisitions. TMI’s market capitalisation on admission was US$253 million.
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A team based in the Maples Group’s law firm in Hong Kong acted as Republic of the Marshall Islands counsel to TMI and was led by Asia head of Shipping and Partner, Jonathan Silver with assistance from Paralegal, Edwin Lo.
Commenting on the transaction, Jonathan said, “We were delighted to advise Taylor Maritime on the Republic of the Marshall Islands legal aspects of this new shipping-focused listing on the London Stock Exchange. The complexity of the transaction is a testament to our in-depth knowledge and experience in this sector. Our London office regularly support the listing of BVI, Cayman Islands and Jersey companies on London Stock Exchange and other major exchanges.”
Norton Rose Fulbright acted as English (and lead) counsel to TMI.