Carey Olsen assists Sandpiper with stock market launch

Friday 07 June 2019

Carey Olsen's corporate team in Jersey advised the island's largest retail group on its recent £75million International Stock Exchange listing.

SandpiperCI listed and started trading on TISE last week.

In going public, it entered TISE’s Channel Islands market segment, which is dedicated to trading companies operating from Guernsey or Jersey that issue equity.

Pictured: Carey Olsen partner James Willmott, who led work on Sandpiper's IPO (initial public offering) bid.

As part of the TISE listing, SandpiperCI issued 25.1million shares at a price of £0.75 per share. The multi-brand business, which trades with 14 franchise partners, now has 100,000,000 in issue.

Acting as lead counsel, the Carey Olsen team advising SandpiperCI was led by Partner James Willmott, with the assistance of Senior Associate Katherine Tresca and Associate Natasha Lyons. Stockbroker and investment manager Ravenscroft Limited sponsored the listing.

Mr Willmott said: "We are delighted to have assisted SandpiperCI on its IPO, having worked with the business since its takeover of CI Traders in 2007. Carey Olsen is the leading legal adviser to TISE-listed clients, and a listing of this size underlines the continued attractiveness of TISE as a stock exchange."

Pictured top: Liberty Wharf, home to many of Sandpiper's franchise partner brands.