Carey Olsen’s listing specialists have advised Raven Russia on the creation and listing of convertible preference shares on the Channel Islands Securities Exchange (CISE). The fundraising, originally targeting a minimum of £105.5m, has in fact raised £108.7m.
The company has ordinary shares, preference shares and warrants listed on the London Stock Exchange (LSE), which all became dual listed on the CISE in May. This further listing, of convertible redeemable preference shares, is listed solely on the CISE and traded on the SETSqx platform (the Stock Exchange Electronic Trading Service of the LSE, which trades in small-cap, less liquid securities).
The Carey Olsen team included partner Ben Morgan and senior associate John Scanlan who advised on the Guernsey aspects of the listing alongside UK counsel Berwin Leighton Paisner.