Leading law firm Charles Russell has advised stockbroker W H Ireland on the AIM listing and placing for Asia Energy plc.
This represents Charles Russell’s first deal for W H Ireland which is the nominated adviser and broker. Charles Russell’s corporate finance team was led by partner Clive Hopewell, assisted by Richard Harry.
Shares in Asia Energy were admitted to AIM on 19 April 2004, with the company valued at £25.47 million. The company raised a total of £11.2 million in the placing.
Asia Energy has been granted a licence recently to produce coal from its Phulbari site in Bangladesh. The company plans to sell the coal to local and export markets as well as building a power station to generate electricity to ease the country’s power shortage.
This is the 6th AIM listing on which Charles Russell has advised so far this year, underlining the firm as one of the leading advisers in the AIM market.
Trowers & Hamlins (Adrian Carter and Paul Airley) acted for Asia Energy.