TruFin plc’s £185 Million Initial Public Offering

Travers Smith and Ogier and Stephenson Harwood LLP advised on the transaction

TruFin plc successfully conducted a conditional placing and subscription of Ordinary Shares to raise gross proceeds of approximately £70 million.

Macquarie Capital (Europe) Limited acted as Global Coordinator and Sole Bookrunner

TruFin plc is the holding company of an operating group comprising three growth-focused FinTech and banking businesses, Distribution Finance Capital, Satago and Oxygen Finance, operating in three niche lending markets: supply chain finance, invoice finance and dynamic discounting. In addition, TruFin owns a c.15% minority stake in Zopa, a leading UK consumer P2P lender.

The IPO will allow TruFin plc to provide further capital to its subsidiaries and scale faster, pursue new strategic acquisitions and take advantage of any developments in the current financial services market.

The Travers Smith team, which advised TruFin plc, was led by Corporate Finance Partner Adrian West, who was supported by Corporate Senior Associate Tom Coulter and Corporate Associate Tom Gubbins.

Ogier advised with a team including Niamh Lalor and Tara Kapur.

The Stephenson Harwood team advising Macquarie Capital (Europe) Limited was led by London-based partner Tom Nicholls (Picture) and senior associate David Dowding. They were supported by corporate associate Gabrielle Pugh, incentives senior associate Anika Chandra and trainee Karen Cheng.

Involved fees earner: Niamh Lalor – Ogier LLP; Tara Kapur – Ogier LLP; Adrian West – Travers Smith; Tom Gubbins – Travers Smith; Tom Coulter – Travers Smith; Tom Nicholls – Stephenson Harwood; David Dowding – Stephenson Harwood; Gabrielle Pugh – Stephenson Harwood; Anika Chandra – Stephenson Harwood;

Law Firms: Ogier LLP; Travers Smith; Stephenson Harwood;

Clients: Macquarie Capital; TruFin plc;

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