Armstrong Teasdale London advises Samarkand Group on its admission to the AQUIS Growth Market and oversubscribed fundraising of £17 million
Armstrong Teasdale’s UK Capital Markets team advised cross-border eCommerce technology and retail group, Samarkand Group PLC (“Samarkand” or the “Company”) on the admission of its ordinary shares to trading on the APEX segment of the Aquis Stock Exchange Growth Market (“AQSE”).
The significantly oversubscribed fundraising, which was scaled up from the original £10.0 million target to accommodate demand from institutional investors and Qualified Investors, raised £17.0 million (before expenses) at an issue price of 115 pence per share. The net proceeds will be used primarily for the expansion of the Samarkand’s business development activities, as well as to progress the Company’s propriety software platform - the Nomad platform.
Founded in 2016 and headquartered in London with an office in Shanghai, Samarkand enables its own brands and other third-party consumer brands to access Chinese consumers through cross-border eCommerce. The Company has developed the Nomad Platform, which offers technology and service solutions integrated within Chinese eCommerce and social media platforms.
Joan Yu, Head of UK Capital Markets at Armstrong Teasdale, commented: “We are thrilled to have advised Samarkand on its admission to the AQSE Growth Market and oversubscribed fundraising. Our cross-border experience and language abilities added to the smooth collaboration with our Chinese counterparts and other advisers. We look forward to the Company’s exciting plans for growth.”
The London Armstrong Teasdale team was led by the Head of UK Capital Markets, Joan Yu who was assisted by Coral Yu (Senior Associate), Arthur Horsfall (Solicitor) and Satish Sangha (Paralegal) from the UK Capital Markets team.
Simon Smiley, COO of Samarkand, commented: “Joan Yu and her team at Armstrong Teasdale deserve significant credit for their excellent advice and diligent work on our successful admission to AQSE. The continually practical approach and ability to work seamlessly with our colleagues and counsel, in both China and the U.K., delivered an excellent result. Those considering cross border transactions with China or an AQSE listing should have Joan and her team at the top of their list.”
VSA Capital Limited acted as Samarkand’s financial adviser and is the Company’s Aquis Stock Exchange Corporate Adviser and Broker.