Memery Crystal and Field Fisher advise on £114m AIM fundraising for Gulf Keystone
Memery Crystal has advised Gulf Keystone Petroleum on one of the largest Alternative Investment Market (AIM) fundraisings of the year so far. Corporate partner Nick Davis led a team from the City law firm advising long-term client Gulf Keystone on the placing of new common shares on AIM, a move that saw the oil and gas exploration and production company raise £114m.
June 01, 2010 at 12:51 AM
2 minute read
Memery Crystal has advised Gulf Keystone Petroleum on one of the largest Alternative Investment Market (AIM) fundraisings of the year so far.
Corporate partner Nick Davis led a team from the City law firm advising long-term client Gulf Keystone on the placing of new common shares on AIM, a move that saw the oil and gas exploration and production company raise £114m.
The fundraising is one of a number conducted by the company since its £60m initial public offering in 2004, including a £16m fundraising in March this year – all of which Memery Crystal has advised on. The fundraising will be used to progress the company's drilling campaign in Kurdistan.
Meanwhile, Field Fisher Waterhouse advised brokers Mirabaud Securities and Russian investment bank Renaissance Capital, with corporate partner Anthony Brockbank leading the UK top 30 firm's team.
Other firms to advise Gulf Keystone on the fundraising include Dewey & LeBoeuf and offshore firm Cox Hallett Wilkinson, which provided US and Bermuda law advice respectively.
Davis commented: "We are delighted to have worked with Gulf Keystone on such a significant fundraising in very difficult market conditions. Even in a good market, this sum would be seen as significant, which gives a very strong indication of the company's prospects."
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